<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/66b47587-f408-4b49-b3e8-a4d77250f2c6/D566D08E-3F3C-447F-8399-B041C56317E6/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.worldwatch.org/node/6284" href="http://www.worldwatch.org/node/6284" style="font-size: 11px;">www.worldwatch.org</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.worldwatch.org/node/6284">World production of fossil fuels-oil, coal, and natural gas-increased 2.9 percent in 2008 to reach 27.4 million tons of oil equivalent (Mtoe) per day.<SUP>1</SUP> (See Figure 1.) In the first half of the year, producers strained to meet global demand, but when the recession took hold later in the year the market was swamped by excess supply. Energy prices reflected this shift: oil peaked at $144 per barrel in July, then fell to $34 per barrel in December<SUP>.2</SUP> Continuing a decade-long trend, most of the growth was in the Asia-Pacific region, where production grew 6.3 percent</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.worldwatch.org/node/6284">The ratio of proved oil reserves to annual production has held steady at roughly 40:1 for more than 20 years, but the remaining reserves are increasingly concentrated in more politically and technically challenging terrain</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.worldwatch.org/node/6284">The less politically risky deposits present formidable technical challenges. The deep ocean, oil shales, and oil sands are all potentially major sources of future oil production</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.worldwatch.org/node/6284"><div align="center"><img src="http://content6.clipmarks.com/blog_cache/www.worldwatch.org/img/45D43BF7-2630-411E-AECA-A5144B121191" alt="Figure 1" /></div></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.worldwatch.org/node/6284"><div align="center"><img src="http://content7.clipmarks.com/blog_cache/www.worldwatch.org/img/ECB8A6E0-42D7-4532-916A-D7CB4E333766" alt="Figure 2" /></div></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.worldwatch.org/node/6284"><div align="center"><img src="http://content8.clipmarks.com/blog_cache/www.worldwatch.org/img/1DD1BBAC-5F3A-4FCE-956E-D650F5CA555B" alt="Figure 3" /></div></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.worldwatch.org/node/6284"><div align="center"><img src="http://content9.clipmarks.com/blog_cache/www.worldwatch.org/img/90281869-2E39-459B-A2F8-1243287C45D6" alt="Figure 4" /></div></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/D566D08E-3F3C-447F-8399-B041C56317E6/blog/" title="blog or email this clip"><img src="http://content6.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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