| From Voanews.com: A new report says the global oil industry is planning to spend a record $490 billion next year on oil and natural gas exploration. The London investment bank Barclays Capital says that its survey of 402 energy companies - from large international companies to very small operations - shows that exploration spending will increase in 2011 by 11 percent compared to this year.
It said some of the increased spending will occur because untapped oil and natural gas deposits are increasingly located in areas that are hard to reach..............................................Full Article: Source
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