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On the day that crude touched new records above $143 a barrel, the heads of some of the world’s biggest oil companies have rejected claims that speculators are driving up prices. At an industry gathering in Madrid, the World Petroleum Congress, they instead blamed the fact that new supplies are not matching demand.
Repsol’s chief executive, Antonio Brufau, said: “Even if the supply and demand situation remains under pressure, there’s not a real problem right now with oil production...
...I don’t believe we’re going to see it at $200 a barrel.”
Originally posted by Animal
... Or is it simply time we dump the oil industry and find a new staple energy source for t5he world BEFORE these bastards get their greedy hands into the cookie jar?