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Friday, September 22, 2006

The price of energy

Don’t let high gas prices get you down. With oil getting scarcer and more expensive by the day, billions of dollars or euros are flowing into a handful of companies with practical alternatives to essential fuels. More oil is used as ever before. The world now burns through 28.6 billion barrels of oil in a year - and that number continues to grow. According to some estimates, there are just over one (1) trillion barrels of oil left in the world. That's only enough to last another 35 years - as long as we keep burning it at today's rate. International Energy Agency predicts that global energy needs will surge 50 % by 2030 and prices will skyrocket if capacity is not significantly increased.


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