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The timing of ASPO's annual meeting in Europe comes as oil climbs above $80 a barrel and the world's super giant oil fields limp into the geriatic ward, reports Eric Reguly from Rome.

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I have a report given to me 2 years ago which said oil will reach $250 a barrel within 5 years some 3 years from now and everyone laugjhed at me.
Looks like it might be an understatement.
 
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