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"The future: supply and demand

Whether the ongoing and future unconventional oil developments will help meet global demand remains an open question. In the short term Jeff Rubin, chief strategist and economist for CIBC World Markets, has his doubts. He says delays in getting huge unconventional projects off the ground, combined with declining conventional production, likely means a tight global market for years to come.

Rubin says delays in Canada and Venezuela bringing projects on stream will likely result in 700, 000 barrels per day of oil missing from the market by 2012.

"Protracted delays in some of the world's largest energy megaprojects will have huge impacts on actual supply growth over the next five years."
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