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IEA warns against oil export blockage

Posted on 25 November 2011

As more countries move to block the importing of oil from Iran, the International Energy Agency’s Chief Economist, Dr. Fatih Birol says Governments are not seeing the bigger picture.

In presenting the Agency’s World Energy Outlook on Thursday, Dr. Birol explained that bans can lead to under-investment in production allowing the country to meet demand a cycle of damage that the world cannot afford would begin. In spite of this, the IEA presented a rather predictable future………………………………………Full Article: Source


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