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The receding threat from 'peak oil'
2013-07-15 01:49:00| Climate Ark Climate Change & Global Warming Newsfeed
BBC: Concerns about oil supplies running dry are receding, according to the International Energy Agency (IEA). Massive new discoveries in the US have led to a "dramatic" change in global prospects. The IEA's head of oil markets, Antoine Halff, says forecasts have had to be repeatedly revised upwards in the past two years. Declining US production has been reversed as oil extracted from shale and other new sources comes on stream. Mr Halff told BBC News that concerns about an approaching "peak"...
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