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<p>[QUOTE=&quot;Cloudsweeper99, post: 1475912, member: 3011&quot;]Your observation about a stronger dollar is a good one.&nbsp; It runs counter to what many people expect.</p><p><br /></p><p>I don&#039;t know if higher prices in oil will lead to higher production.&nbsp; The concept of peak oil doesn&#039;t imply we are running out of oil.&nbsp; It implies that since existing wells and fields have a natural decline rate of something like 5-7%, so the only way to increase supply is to drill at an ever increasing rate.&nbsp; The first 2billion barrels of new production brought on line each year only goes to replace the production declines from existing sources.&nbsp; And this number increases every year as world wide demand increases.&nbsp; It&#039;s a big hurdle.[/QUOTE]</p><p><br /></p>

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