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Tight supply to keep oil prices high |
| Home | (The Australian) - THE US National Petroleum Council's report on world oil and gas last week was a defining moment in the history of the global energy industry. The study, calling on the US to implement such radical measures as the fastest technically possible increase in vehicle fuel economy standards and an international framework for managing carbon dioxide emissions, echoed familiar demands from environmental campaigners. Yet it was commissioned by a US administration that has been a staunch defender of the traditional energy industry and was led by Lee Raymond, the former chairman of Exxon Mobil who is the epitome of the old-school oilman. |