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November 14, 2012

IEA: More Oil, Higher Prices, Global Warming

Bill Roth, Triple Pundit


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The International Energy Agency (IEA) World Energy Outlook for 2012 has received tremendous media attention by forecasting that the U.S. is poised to displace Saudi Arabia as the world’s largest oil producer. This is great news for our economy because imported oil acts as a tax retarding our economic growth. However, the other IEA key findings were that energy prices are going up and our energy system, even with more oil, is still unsustainable.

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TAGGED: gas prices, US oil production, global warming, energy independence, IEA Report

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