I read this article and thought it may be of interest to you here on this forum.
tinyurl.com/24wxpg
Throws another reason your fuel will go up in price, if one oil company is doing it...
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Nothing new. Shell and BP have declining output.
Cost of finding oil is rising.
Cost of producing oil is rising.
Very few oil companies are finding as much oil as they produce.
On avearge 1 in 7 new wells finds oil. The risk/reward ratio is getting worse for exploration.
Paradox.
Most oil company shares are valued as if oil was $50 per barrel.
Oil prices have doubled in a year.
The UK's Oil and Gas Index has gone up and down: but basically is where it was in March 2007.
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They are making the biggest profits in history, and part of this is bourne by the lies about Peak Oil which they propagate.
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