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FT Oil industry sums do not add up

Mark Lewis has an article at The FT on this years IEA World Energy Outlook - Toil for oil means industry sums do not add up - noting it highlights that high oil prices and massive increases in capital spending by oil firms are not resulting in significant increases in production (probably the best harbinger of peak oil).

Lewis notes this "should be a reality check for those now hyping a new age of global oil abundance".