Peak Oil is You

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Page added on January 29, 2008

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Triple digit oil price regardless of peak

The real value of oil is “way, way, way above $80″ according to a leading analyst. Paul Horsnell, head of commodities research for Barclays Capital, says it is hard to see the price falling below $80, even allowing for a lot of pessimism about the economy, and that the long run price is likely to be in triple digits

Speaking on the sidelines of the World Future Energy Conference in Abu Dhabi last week, Horsnell said the run-up to $90-$100 per barrel was not primarily due to geology, but to above ground factors such as the “short sighted” oil industry cost cutting of the 1990s. However he does acknowledge that decline rates are turning out to be higher than expected

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