Monday, February 16, 2009

"The capacity that the oil industry has to go to 93-95 million barrels per day is already over"

World oil production potential weakening: Total
"The oil price collapse has weakened the industry's capacity to increase output and future production may top out at a lower level than earlier expected, the chief executive of major oil company Total (TOTF.PA) said..."


Total has been actively expanging in the Canadian oil sands, so I suppose you could say that de Margerie is practising according to his preaching.

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