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Petrobras says it is expanding oil and gas production in the pre-salt in “economically viable” manner

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Responding to press articles saying that the collapse of the global oil price is threatening oil and gas production in the off-shore Brazil pre-salt layer, Petrobras countered that it is expanding its production capacity “in an economically viable manner.”

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Harvard Kennedy School researcher forecasts sharp increase in world oil production capacity and risk of price collapse

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World oil production capacity to 2020 (crude oil and NGLs, excluding biofuels). Oil production capacity is surging in the United States and several other countries at such a fast pace that global oil output capacity could grow by nearly 20% from the current 93 million barrels per day to 110.6 Source: Maugeri 2012.

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US EIA Projects World Energy Use to Grow 44% Between 2006 and 2030, CO2 Emissions Up by 39%

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World marketed energy consumption is projected to grow by 44% between 2006 and 2030, driven by strong long-term economic growth in the developing nations of the world, according to the reference case projection from the International Energy Outlook 2009 ( IEO2009 ) released today by the US Energy Information Administration (EIA).

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Record $86B in 2011 US oil and gas upstream deals, led by unconventional sector with $62B

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United States M&A activity for upstream oil and gas deals set records in 2011 for both deal values and deal counts, according to PLS, Inc., a provider of information, marketing and advisory services for the oil and gas industry. We expect continued strong activity in oil and liquids-rich resource plays in 2012. —Ronyld W.

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EIA: world petroleum use sets record high in 2012 despite declines in North America and Europe

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The world’s consumption of gasoline, diesel fuel, jet fuel, heating oil, and other petroleum products reached a record high of 88.9 If China’s use of petroleum continues to grow as projected, it is expected to replace the United States as the world’s largest net oil importer this fall. million bbl/d and 800,000 bbl/d, respectively.

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Researchers Suggest That Although CCS and Other Technologies Could Reduce Oil Sands GHG Emissions to Near Zero, That Strategy May Not Make Sense

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Examples of emerging oil sands related technologies and trade-offs. The paper is an examination of how various choices about the scale of the life cycle analysis applied to oil sands (i.e., The source material is neither oil nor tar but bitumen, but is most generally described as an example of ultraheavy oil.”.

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The Real Reason for USA based Economic Recessions.

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The True Cause of Recessions: OIL. I was asked to speak about the economic impact of our oil dependency and so I began researching this topic to see if I could draw some insightful conclusions. All of the recessions listed above were caused by oil except the early 2000 recession that was caused by September 11th, 2001.

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