The world's premier energy monitor is preparing a sharp downward revision of its oil-supply forecast, a shift that reflects deepening pessimism over whether oil companies can keep abreast of booming demand.SHOCKING and from what once was an american newspaper that supported the president to support the Troops!!!
The Paris-based International Energy Agency is in the middle of its first attempt to comprehensively assess the condition of the world's top 400 oil fields. Its findings won't be released until November, but the bottom line is already clear: Future crude supplies could be far tighter than previously thought.
A pessimistic supply outlook from the IEA could further rattle an oil market that already has seen crude prices rocket over $130 a barrel, double what they were a year ago. U.S. benchmark crude broke a record for the fourth day in a row, rising 3.3% Wednesday to close at $133.17 a barrel on the New York Mercantile Exchange.
[ cf Energy Watchdog Warns Of Oil-Production Crunch ]
Clearly the Evil Work Of the Princess Sparkle Pony.
Everyone knows that by reducing the demand curve, the old fashion way, by recycling the unbelievers into bio-fuels will create huge new streams of fuel liquids.
All Hail RoboBushCheney
They bring us supply by decreasing the number of unbelievers!!!