November 11, 2009

OPEC says oil demand going up, again

This is a game, and OPEC is just one player.   Whether you trust OPEC or not, they claim
The Organization of the Petroleum Exporting Countries revised its 2010 global crude demand up to 85.07 million barrels per day on Wednesday — 75,000 barrels per day higher than its assessment last month. - CBC
Unfortunately world production cannot meet that figure.

The issue of oil demand and supply is gaining some much needed airtime on the major news channels.  Glad CBC also mentions Peak Oil:
The OPEC forecast comes a day after the International Energy Agency came under fire for allegations that the agency tones down its oil forecasts to avoid triggering panic buying, concealing the fact that the world has reached peak oil production.
OPEC meets Dec. 22 in Angola to "discuss production levels" - likely to agree that the reserves are bountiful and no need to worry.

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