|
|
Article: Putting a cap on oil supply worries.
- Article from:
- The Dallas Morning News (Dallas, TX)
- Article date:
- June 22, 2005
CopyrightCOPYRIGHT 2005 The Dallas Morning News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Byline: Sudeep Reddy
Jun. 22--Oil prices are hovering around $60 a barrel due to persistent anxiety about supply shortages in the face of surging demand.
But worries about an oil crisis in the coming years may be unwarranted, a prominent consulting firm said in a report Tuesday.
Using a field-by-field analysis of oil projects around the world, Cambridge Energy Research Associates found that global oil-production capacity should increase dramatically by the end of the decade.
"What really strikes us is the difference between the current mood and expectations and what we see when we do our analysis," CERA chairman Daniel Yergin said.
...