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IEA says oil supplies may not keep up with demand

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Despite what appears to be a saturated oil market in 2014, oil producers around the world will struggle to meet rising demand over the next few decades. Global oil demand is expected to increase by 37 percent by 2040, with a dominant proportion of that coming from developing countries—i.e. China and India.

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State Department issues Draft Supplemental Environmental Impact Statement on Keystone XL Pipeline: climate change impacts

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The US Department of State (DOS) has released its Draft Supplemental Environmental Impact Statement (SEIS) in response to TransCanada’s May 2012 application for the Keystone XL pipeline that would run from Canada’s oils sands in Alberta to Nebraska. The pipeline would primarily transport crude oil from the WCSB and Bakken regions.

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Increase in US rig count will not cap oil prices

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The impact of rising oil prices on North American light tight oil (LTO) production is said to be a “Catch 22”, the title of Joseph Heller’s popular 1961 novel set in WWII. Too many analysts continue to believe drilling and service has the same problem with rising oil prices. by David Yager for Oilprice.com.

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Stanford, UC Santa Cruz study explores ramifications of demand-driven peak to conventional oil

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In contrast to arguments that peak conventional oil production is imminent due to physical resource scarcity, a team from Stanford University and UC Santa Cruz has examined the alternative possibility of reduced oil use due to improved efficiency and oil substitution. 2010, to above 140 $/bbl in constant 2010 dollars).

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State Department releases Keystone XL Final Supplemental Environmental Impact Statement

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Incremental well-to-wheels GHG emissions from WCSB Oil Sands Crudes Compared to Well-to-Wheels GHG Emissions from Displacing Reference Crudes Click to enlarge. Market analysis: cross-border pipeline constraints have a limited impact on crude flows and prices. million bpd by mid-2013. million bpd in 2010 to 6.5

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IHS-CERA concludes “no material impact” on US GHG from Keystone XL; heavy crude from Venezuela most likely replacement

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The study also found that any absence of oil sands on the US Gulf Coast would most likely be replaced by imports of heavy crude oil from Venezuela, which has the same carbon footprint as oilsands crude. Even considering new capacity from rail, the balance between western Canadian supply and export capacity remains tight.

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