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Email this article: Oil will go up 'ballistically' if unrest shifts to Saudi Arabia, says Marc Faber
Posted: Tue March 8, 2011 10:09 pm
INTERNATIONAL. The world is burning more oil than it is adding reserves. Production from existing fields will go down, so you have to find new fields and develop new ones all the time, Faber says estimating the marginal cost of new oil around US$80 per barrel.
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