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Politics : Sioux Nation -- Ignore unavailable to you. Want to Upgrade?

To: SiouxPal who wrote (139068)	7/16/2008 2:19:09 PM
From: stockman_scott	Read Replies (1) \| Respond to of 361700

Oil Prices to Ease in Next Two Years as Output Gains, IEA Says By Ahmed Rouaba July 16 (Bloomberg) -- Oil prices will ease over the next two years as producers pump more crude, International Energy Agency Executive Director Nobuo Tanaka said. ``There are new production projects which will improve the situation in 2009 and 2010, but after that the situation will get tighter again,'' Tanaka said yesterday at a conference in Algiers. While a falling dollar and speculation are helping to push prices up, oil's main drivers remain the accelerating demand in emerging markets and declining spare capacity in producing nations, he said. ``Demand is growing in emerging economies and spare production capacity is low; that is why prices are very high,'' Tanaka said, calling on producing countries to boost investment to tap ``a lot of unexplored oil potential.'' To contact the reporter on this story: Ahmed Rouaba in Algiers at arouaba@bloomberg.net Last Updated: July 16, 2008 01:42 EDT