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Oil Price

IEA oil crunch warning: governments should have worked on it 10 years ago

http://www.abc.net.au/catalyst/oilcrunch/

http://www.youtube.com/watch?v=RaNz3qS5WAo

This is a short summary of the essential statements.

The International Energy Agency’s chief economist Fatih Birol

“When we look at the oil markets the news is not very bright.

We think that the crude oil production has already peaked in 2006″