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OIL PRICES WILL FALL, SAYS CERATo gaze at oil prices-which, in new weeks, have been more than $60 a barrel-some might suspect single reason to be that oil supplies have been deplet perhaps for profitable Moreover, the rate of fresh exploration and production seen after the oil percussions (and rising prices at the gas pump) of the 1970 does not have the appearance to be occurring in this hundred Not so, according to a novel report by Cambridge Energy Research Associates (CERA). In fact, global oil production capacity is actually plant to increase dramatically over the ease of this decade. As a originate supply could exceed demand by means of as much as 6.0 to 75 million barrels for day (MBD) later in the decade, a marked contrast to the high demand and tight endue that has resulted in today's in every one's mouth record-high oil prices. "Significant of recent origin capacity will be coming upon stream-much of it launched a not many years ago on price assumptions a great deal of lower than today's market prices," says Daniel Yergin, chairman of CERA. "The addition of that of recent origin capacity is what is required to improve the supply/demand balance." The increase in endue would take the pressure not upon prices around 2008. It may flat lead to a period of price weakness, according to the report. "Unconventional" oil-such as condensates, natural gas liquids, extra heavy oils, and ultra-deepwater oils (taken from wells deeper than 2500 feet)-will play a a great quantity [i]or[/i] amount of larger role in the increase of supply than many commonly recognize: By 2020, such oils could show nearly 35 percent of supply The report indicates that the pace of fresh major projects coming onstream worldwide will stay stout until 2010, when prices fall not upon "The main risks to our provide expansion scenario are above clod not below-we're concerned about changes in the political and operating climate that could delay expansion," says Yergin. In CERA's downside scenario, the lower boundary in the analysis, capacity increases by the agency of 11.5 million barrels between 2004 and 2010 Copyright Edison Electric Institute Sep/Oct 2005 3176 MacArthur Blvd Northbrook, LL 60062 Phone:888-2CHASE1 www.chaseart.com The Chase collection a premier fine-art publishing company, exhibits highly acclaimed Europea... Variant of "A Lady with Pearls, to a vital current Red Rook from Turkey, Who Has Depicted Her with Pathos in morose Monotone": Copyright World metrical composition Incorporated Sep/Oct 2003... The American Heart Assn.'s (AHA) Scientific Sessions 2001 will be held November 11-14 in Anaheim, Calif., and the organization maintains exhibitors can benefit doubly by means of attending. In ad... Contemporary liberal theorists have grown bear uponed with value pluralism--in essence, with people's "conflicting and incommensurable conceptions of the human good" (1)--and its implications for lib... Roehl Randy American Machinist 12-01-2002 Help us help you Byline: Roehl Randy Volume: 146 Number: 12 ISSN: 10417958 Publication Date: 12-01-2002 ... Making faculty of perception of the Chaoulli decision POLITICAL DRAMA THIS PAST SPRING FOCUSED upon WHETHER THE Martin government could survive its bundle vote in the House of publics But more significant ne... TECHNOLOGY REVIEW: A company called Cyberkinetics received U rations and Drug Administration approval in April for a clinical trial of a brain implant designed to allow paralyzed patients... A lock opener machine tool at Eaton Corp.'s facility in Roxboro, NC is a Heald 1VL I.D. grinder for finishing the company's automotive hydraulic lifters and associated constituents Unfortunately, t... era Arts of Irving, Texas, introduces a fresh line of finished-corner photo frames featuring delicate etchings and gold and silver metal leaf finishes. Each frames is hand finished and approachs with... |
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