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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: tejek who wrote (394767)	6/28/2008 1:50:09 PM
From: steve harris	Respond to of 1578940

If I need my car worked on I'll call ed.

To: tejek who wrote (394767)	6/28/2008 4:37:09 PM
From: combjelly	Read Replies (3) \| Respond to of 1578940

"The Administration says oil's runup is due to shortages, but the evidence points to manipulation." This is a problem when there is a lack of transparency. The oil industry doesn't have a lot of it. He details a change in 2 million barrels a day in demand. That sounds like a lot. And it is. But, in 2006, world-wide demand was at 86 million barrels a day. en.wikipedia.org So a change of maybe 3% is not going to be felt in the system immediately. Now, couple that with the poor state of information about what is really going on in the industry and you can imagine almost anything. The problem is, that most production figures can be taken with a large grain of salt. Figuring out exactly who is producing what is not an easy thing to do because much of the oil produced is by national companies. And their figures are often bogus. Especially when it comes to declines in production and proven reserves. The fact that we are even arguing about the possibility of peak oil is pretty amazing. We should know. But, we don't.