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The receding threat from ‘peak oil’

Posted on 15 July 2013

Concerns about oil supplies running dry are receding, according to the International Energy Agency (IEA). Massive new discoveries in the US have led to a “dramatic” change in global prospects.
The IEA’s head of oil markets, Antoine Halff, says forecasts have had to be repeatedly revised upwards in the past two years. Declining US production has been reversed as oil extracted from shale and other new sources comes on stream………………………………………..Full Article: Source


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