Re: The Election ad Oil--M14W49

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jurek

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Re: The Election ad Oil--M14W49

in response to

Re: The Election ad Oil--Rebels1

M14W49

posted on Nov 03, 2008 07:35PM

"IEA report coming out next month, it was reported that the 400 largest existing oil fields are depleting at about 9.9% per year"/M14W49

IEA actual number is 9.1% and is already well known to industry insiders and traders. It will be release in Paris on NOV15.

Apparently it does not take to the account any (zero) investment in OIL exploration and technological improvement. IMO, the IEA Report will make good headlines news only.

The story effecting the OIL price now is the $US, declining demand for real OIL and so call "paper OIL" (future contracts).

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