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World Crisis scenarios for the 21st century – Peak Oil. (update 7)

Posted by Adrian on January 18, 2008

On January 2nd and 3rd 2008 world oil prices reached $100.00 (per barrel) this is the first time in history. Whether or not this rise was on the back of a trader pushing the price to the $100.00 or the geopolitical tension in Iraq, Iran, Pakistan and Nigeria – the point is the demand for oil is increasing namely from China, India and of course Western countries such as the US and Australia (per capita).

The peak oil theory is holding more validity as we move into 2008

World Crisis scenarios for the 21st century – Peak Oil.
(update7)

refer to graph, (note the Dates:01/02/2008 O=97.74 H=100.00 L=97.74 C=99.62 V=227099 OI:320900 and Date:01/03/2008 O=99.25 H=100.05 L=98.50 C=99.18 V=241269 OI:322787)

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Also please refer to Marketwatch report on oil production, as overall productions losses estimated at at 4.5% each year. Video found here

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