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I would imagine that serious people would point to the fact that, as it is only recently that the IEA have increased their estimate for the price of oil in 2010 above $40, they are hardly a forecasting group whose views can be relied upon.

keep to the Fen Causeway
by Helen (lareinagal at yahoo dot co dot uk) on Wed Jun 11th, 2008 at 06:53:18 AM EST
has long been the biggest excuse to do nothing, with their cornucopian forecasts, but they have steadily moved closer to being "strident" (see my various articles in the Countdown series), and are now in a year-long campaign to leak the fact that their November Outlook Report will be substantially different and will flag, essentially, that the party is over and that we will never have the volumes of oil that everybody seems to be expecting in the next decade.

So it is that movement that needs to be listened to.

In the long run, we're all dead. John Maynard Keynes

by Jerome a Paris (etg@eurotrib.com) on Wed Jun 11th, 2008 at 07:05:47 AM EST
[ Parent ]
Oh , I agree you're right, although I might suggest they're a dya late and a dollar short now they've noticed the price is rocketing.

However, what I was highlighting the the probability that "serious" people will now choose to ignore them on the grounds of inconsistency.

keep to the Fen Causeway

by Helen (lareinagal at yahoo dot co dot uk) on Wed Jun 11th, 2008 at 08:15:17 AM EST
[ Parent ]

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