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Watching The World: Yamani foresees OPEC's demise

08/30/2010
By Eric Watkins
Remember Sheikh Ahmed Zaki Yamani? The man who is famous for that saying about the Stone Age? You know: the Stone Age did not end because people ran out of stones?Well, Sheikh Yamani is back to making his outrageous comments. This time, he predicts that the future is growing short for the Organization of Petroleum Exporting Countries, which this year celebrates its 50th anniversary. Yes, the handwriting is on the wall, and it is not written in oil. According to Yamani, OPEC won't be able to exist another 50 years if hydrogen can be produced as a low-cost alternative energy source.Yamani's view fits with recent thinking in the US where motor vehicles now consume twice as much oil as the co...
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