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IFP: Politics, money crisis to impact energy industry

02/02/2009
In an unprecedented economic and financial crisis where “all reference marks have disappeared,” the president of the Institut Francais du Petrole (IFP), Olivier Appert, ventured two “extreme” scenarios for the midterm oil scene.If energy policies to control demand prevail and investments are maintained at a certain level, he said, oil prices could remain relatively stable around the level of conventional oil substitutes—$60-100/bbl.But if the economic upturn is strong and the crisis discourages investments in supply as well as demand management, tensions will elevate prices to $100-150/bbl.In the short term, Appert said, oil prices should hover at $30-40/bbl,...
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