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When you have to look for new oil at depths of over 1,500 metres (5,000 ft) under the sea, or coax it out of the tar-sands of northern Alberta by equally expensive techniques, the era of plentiful cheap oil is definitely over.

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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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