This is What “Peak Oil ” Looks Like for Investors and ConsumersYour only question – where can I invest to profit ?The Background to the Oil Crisis :1 ) The Super Major Oil Production Companies Are Not Replacing Their ReservesAt the same time as consumers face record gasoline prices , investors salivate at the rise in analysts forecasts for the commodity price.Replacing the daily ” draw ” of their reserves is the challenge facing Exxon Mobil Corp., Royal Dutch Shell Plc, BP Plc, Chevron Corp., Total SA and ConocoPhillips, which will spend a record $98.7 billion this year on exploration and production, Lehman Brothers Holdings Inc. estimates. Costs more than quadrupled since 2000 as explorers targeted more challenging reservoirs and demand rose for labor and material.The leading example of the world’s largest oil producer Exxon illustrates the giant problem and the giant profits . Exxon pumps out 4.5 million barrels of oil a day. It must find the same amount as it pumps out or face decline. In 2006, 2007 and now in 2008 it has not replaced as much as it depletes.2 ) OPEC is Not Meeting the DemandNew supply from outside OPEC nations will meet about 20 percent… Read full this story
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