Thursday, 29 May 2008

Oil Prices

We keep reading that the world is running out of oil, as if that explains why the price has gone crazy in the last few months. But Russia's Lukoil announced today a new oil find in the Caspian Sea with 3.8 billion barrels of oil and 91.7 billion cubic meters of gas. Don't listen to the peak oil nonsense. It's a bubble.

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