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And Down Goes Oil

What happens if supply is increased? Correct, the price goes down. Article: EnglishGerman.

I can’t wait to see the faces of Peak Oil theorists, when they have to postpone the date of PO again. With the massive increase in supply that is about to happen in the US and in Iraq, and with continous low demand in industrialized countries (due to low growth after the recent crisis), oil prices should keep below $80 (in 2010 dollars ;-)) for a very long time.

Now, if we could only overthrow the regimes in Venezuela and Iran, and if we could force other oil producing countries to privatize their oil businesses and to let competition in…

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