Friday, January 23, 2009

BP executive warns oil prices have further to fall - National Post

HONG KONG -- It is impossible to tell how much deeper oil prices will fall this year as demand for energy shrinks for at least the next 12 months, one of Asia's top oil executives said Tuesday.

"Big energy projects take 10 years. If we see a pause in investment today, we will not see the impact for 10 years," said Mr. Dirks who was speaking at the Asian Financial Forum in Hong Kong.

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