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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: Snowshoe who wrote (95808)	1/17/2008 1:11:03 PM
From: Dennis Roth	Read Replies (1) of 206212

World Oil Output Is Declining Slower Than Expected, Cambridge Energy Says By Tina Seeley bloomberg.com Jan. 17 (Bloomberg) -- World oil production will fall at a lower annual rate than predicted, according to a new study that looks at the production life of 811 oil fields. The research, conducted by Cambridge Energy Research Associates and IHS Inc., indicates that the aggregate global decline rate among fields in production is 4.5 percent annually, lower than the 8 percent cited in other studies. ``Some of the more gloomy, pessimistic 'peak oil' views about the future of oil supplies that are current today result from an assumption of high decline rates,'' Peter Jackson, oil industry activity director for Cambridge Energy Research and author of the report, said in a statement today. ``This new analysis provides the basis for more confidence about the future availability of oil.'' To contact the reporter on this story: Tina Seeley in Washington at tseeley@bloomberg.net . Last Updated: January 17, 2008 08:41 EST

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