http://online.wsj.com/article/SB120459389654809159.html?mod=opinion_main_commentaries


  The World Has Plenty of Oil

By *NANSEN G. SALERI*
March 4, 2008; Page A17

Many energy analysts view the ongoing waltz of crude prices with the 
mystical $100 mark -- notwithstanding the dollar's anemia -- as another 
sign of the beginning of the end for the oil era. "[A]t the furthest 
out, it will be a crisis in 2008 to 2012," declares Matthew Simmons, the 
most vocal voice among the "neo-peak-oil" club. Tempering this pessimism 
only slightly is the viewpoint gaining ground among many industry 
leaders, who argue that daily production by 2030 of 100 million barrels 
will be difficult.

In fact, we are nowhere close to reaching a peak in global oil supplies.


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