Energy Information Agency says high prices to remain

This is from the Energy Information Agency:

The prospects for significant improvement in the world petroleum supply and demand balance appear to be fading. While U.S. production in 2006 will grow with recovery from the hurricanes, only moderate increases in OPEC and other non-OPEC production and capacity are expected. Steady and continued growth in world oil demand will likely combine with only modest increases in world oil production capacity leaving little room to increase production in the event of geopolitical instability. Crude oil prices will remain high through 2007.

Source.

I think I finally beat BigGav to the punch with this one.

However as usual, he has a ton of relevant news if you are following Peak Oil.

Comments

[Big Gav]

Yes - agreed - you beat me to that one...

[Peter]

I think I finally know why you beat me so consistently. You Aussies are a day ahead of us, aren't you?

[Big Gav]

Actually if you are comparing dates that puts me at a disadvantage :-)

Plus I often buffer links for a day or two - there was a period last year where I tried realtime blogging and posted stuff during the day as I read it (not something I can do when I'm working unfortunately).

Doing the realtime thing it can become somthing of a game to post stuff before anyone else does but these days I try to tell something of a story when I've got the time (admittedly the story is often a bit repetitive).