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18 comments on IEA's Resources To Reserves - Not to Worry!

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Dan Ur on October 22, 2005 - 6:01pm

The Reports sub-title is thus:

"We Just Covered Our Asses"

What magic, you stupid world did not come up with the needed capital, you failed to give the process $5 Trillion dollars!! You failed!! We told you what was needed Don't Blaim Us!!

They can't really be faulted for trying to save their cushy jobs, all they have to do every year is show alls well, and go to another great cocktail party and start writting next year's report.

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Sam Foucher on October 22, 2005 - 6:42pm

That works out at roughly $564.5 million dollars a day, between now and 1 January 2030.

Ok but at today consumption rate it represents only an investment of about $5-6 dollars per barrel. Light sweet crude prices averaged $38.27 in 2004 against $29.61 in 2003. This 9$ increase generated around $700 millions of dollars per day in additional profits!

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18 comments on IEA's Resources To Reserves - Not to Worry!

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