Tom Konrad of Alt Energy Stocks posted this information which I wish to pass on.
The International Energy Agency (IEA), issued a new report July 9, which, while it still does not acknowledge peak oil, predicts a supply crunch in the 2010-12 time range.
Despite four years of high oil prices, this report sees increasing market tightness beyond 2010, with OPEC spare capacity declining to minimal levels by 2012,'' the IEA said in its Medium-Term Oil Market Report, which is published every six months. ``Low OPEC spare capacity and slow non-OPEC production growth are of significant concern.
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