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Demand for Oil May Pass Output by 2012

Experts see prolonged crisis as producers max out pumping ability

By Jim O'Neill,  Newser User

Posted Nov 19, 2007 10:07 AM CST

(Newser) – Production limits, not supply, could prompt an oil crisis in less than a decade as efforts to reduce demand and introduce alternative fuels trail growth in the world’s oil needs, the Journal reports. Oil companies currently produce 85 million barrels daily; some experts say...   Read full story »

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