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  • Oil Rises Again: What Does it Mean? [View article]
    current low oil prices are not the result of some new large supply source but rather from the severe worldwide economic contraction in oil demand, in part caused by $145/barrel oil in 2008. despite that high oil price last year, worldwide oil production never got higher than 65,000,000 barrels/day and production at the three largest US oil companies (XOM, CVX, and COP) was down year over year. the era of peak oil is here: worldwide oil supply will simply not keep up with worldwide oil demand (assuming a functioning world economy, present day withstanding). the only US fuel source that can be scaled up to solve the US's 65% addiction to foreign oil is natural gas:
    seekingalpha.com/artic...

    US natural gas resources are abundant, it's clean, and it's cheap.

    we also need a strategic, long-term, comprehensive energy policy:
    thefitzman.blogspot.co...

    if the US doesn't get serious about our oil crisis, we will continue to be on an economic yo-yo while our energy capital flows out of the country at an alarming rate.
    Mar 23 09:34 am |Rating: +7 -3 |Link to Comment
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