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Another oil price spike predicted

08/18/2008
By NINA RACH
Unless demand for oil collapses within 5-10 years, the world will experience a serious “supply crunch” with prices shooting above $200/bbl for crude, according to an Aug. 8 report by Chatham House, home of the Royal Institute of International Affairs, a leading institute for debate and analysis of international issues.That’s because investment in exploration and development of new crude supplies “has been and will be inadequate,” said the report, The Coming Oil Supply Crunch, authored by Paul Stevens, senior research fellow for energy at Chatham House in London and emeritus professor at Dundee University.“Even allowing for some increase in capacity over...
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