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The Party’s (Almost) Over
To the long list of wearying apocalyptic scenarios facing the future of humankind must, unfortunately, be appended yet another. One which, nonetheless, at least has the merit of focusing attention by virtue of its sheer immediacy.
According, then, to many of the world’s most prestigious (independent) oil geologists and institutions, not only is the era of cheap oil now almost certainly at an end, but by the end of this decade — and likely before — the price of a barrel of oil will rise well past $100, and will continue to climb quickly and inexorably thereafter.
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