http://www.dallasnews.com/business/286789_oiloutlook_14b.html Now that the "crisis" of the $40-60 /bbl awl is gonzo, out come the stories of "new fields" and new production coming. Cambridge is widely respected. so much for "dieoff.com" and the rest of the Zombies that GICC and Paula tried to use.

Worldwide oil production expected to rise

Consulting group says increase could result in lower prices

02/14/2001

By Terry Maxon / The Dallas Morning News

Worldwide oil production expected to rise • Cambridge Energy Research Associates Extra content on other topics

HOUSTON – The world's oil production is expected to rise steadily over the next five years as new major fields begin pumping more crude, a major consulting group predicted Tuesday.

The prospect of the increasing supply has major international implications both for the Organization of the Petroleum Exporting Countries and for major oil consuming nations such as the United States.

"It suggests to me there's likely to be a lot more oil around, which in the medium run can mean downward pressure on prices," said Jim Placke, a director at Cambridge Energy Research Associates, which made the projections.

OPEC has driven the price of oil from about $10 in late 1998 to above $30 in 2000 and 2001 by cutting back its production. If OPEC responds to the growing world production by again cutting back production from its members, the members may earn less oil revenue even if oil prices stay high, he said.

-- Anonymous, February 14, 2001

Answers

Then why is W so hot to start drilling in the Alaska Wildlife Refuge areas?

-- Anonymous, February 16, 2001

Come-on Peter cause of the Energy Shortage don't ya know.

How the same tired lines which date to the Nixon Era still float with some people defys any type of logic. Don't even bother to "go figure".

Answer is pretty simple actually,,,,many apparently like being lied to and bend over.

-- Anonymous, February 16, 2001