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Enterprise drives exploration

03/24/2008
The letter “Peak-oil context” by Michael Lynch (OGJ, Feb. 25, 2008, p. 12) correctly points out that large additional reserves continue to be added to the world’s capacity, despite statements that the “elephants” have all been found (see, for example, the size of Tupi, p. 34 of the same edition). The figures should influence the market price of oil. The fact that they do not and the daily fluctuation of a few dollars along a rising trend point to market manipulation for which we all pay, and for which the industry will undoubtedly soon suffer, repeating history (yet again).Peak oil understanding rests upon the presumption that current paradigms are correct an...
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