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09/17/07 6:26 PM

#22959 RE: frankie_fillet #22942

More basic than that even...

The majors are having trouble replacing reserves. Do some digging, peak worldwide production occurred 1 to 2 years ago depending on which numbers you take as gospel. The Saudis may even be past peak production. They are down from a high 2 years ago.

Price of oil? Higher, much higher.