[Peakoil-announce] $100 oil and PO on Bloomberg.com

[Ashleigh, Matt (DPS)]

Note the reference to the peak oil "theory" at the end of the article:

Higher prices have been cast as vindication for a theory that the world
has reached the maximum rate of oil production as explorers fail to
discover major new fields to replace aging deposits being tapped in
countries such as Saudi Arabia, Kuwait and Iran. 
While Saudi Arabian Oil Minister Ali al-Naimi and Exxon Mobil Corp.
President Rex Tillerson have said oil supplies will last for decades,
energy traders are increasingly debating the amount of available crude. 
Investors who back the peak-oil theory, such as Boone Pickens, a Dallas
hedge fund manager and former oil executive, have led the price rally of
the past two years. Pickens, chairman of BP Capital LLC, correctly
predicted in 2004 that oil prices would top $60 a barrel in 2005 and in
early 2006 said oil could reach $90 to $100 a barrel within two years. 

The report in full can be found here:
http://www.bloomberg.com/apps/news?pid=20601082&sid=aqVlMdAxVyzM&refer=c
anada



Best Regards
Matt