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67 comments on Oilwatch Monthly - October 2008

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daniel morris on October 23, 2008 - 11:01am Permalink | Subthread | Parent | Comments top

Wow, the combination of total liquids data from the EIA and IEA is just poetic. The US energy department reports total liquids reaches an unquestionable new peak (just ignore the other line showing crashing production created by the man behind the curtain). World wide demand must be crashing. I now must side with those predicting declining oil prices for the next year and probably two. With production capacity up over that period and demand falling, the inelastic nature of the demand curve should take over unless the Saudi’s cut production millions of barrels a day. Peak oil is unquestionable here as existing field depletion continues in an environment of inadequate investment.

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PeakPlus on October 23, 2008 - 11:07am Permalink | Subthread | Parent | Comments top

Well, don't forget that they're results are two months apart..

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daniel morris on October 23, 2008 - 11:12am Permalink | Subthread | Parent | Comments top

I understood that. Its dramatic and significant because of the difference 2 months makes.

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67 comments on Oilwatch Monthly - October 2008

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