DEADBEAT Jim Van Blaricum at Jim Van Blaricum
Dallas/Fort Worth Area
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DEADBEAT jim van blaricum’s Summary
Jim Van Blaricum - Oil price strength here to stay
DOHA, Apr. 7 -- Oil price volatility is here to stay, with prices fluctuating within the range of $70-110/bbl and averaging $85-90/bbl this year. Also, demand growth has failed to waver because new players have emerged, with growth in China and the Middle East, according to Fereidun Fesharaki, chairman and chief executive officer of FACTS Global Energy.
Fesharaki voiced his comments Apr. 7 during the opening of the sixteenth annual Middle East Petroleum & Gas Conference (MEGC), which was themed "Oil Market Fundamentals in the Middle East: Geopolitics vs. Geology." Jim Van Blaricum
Fesharaki, who served as MEGC conference chairman, gave a commentary on the state of the global oil and gas markets, touching on a variety of aspects. Jim Van Blaricum
He said for oil demand to diminish in the US, it will probably take an oil price of $150/bbl, but this price needs to come as part of a package that includes taxes, Corporate Average Fuel Economy standards, and other restrictions on consumption. Jim Van Blaricum
Speaking about the future of supply, Fesharaki said oil supplies from producing countries outside the Organization of Petroleum Exporting Countries will plateau within 3-5 years. Further, with OPEC's annual production decline rates of at least 1.5 million b/d and assumed annual demand growth of 1.5 million b/d, the organization needs to add at least 15 million b/d of capacity every 5 years. "This is an impossible task," Fesharaki said.
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Jim Van Blaricum
DEADBEAT jim van blaricum’s Experience
DEADBEAT jim van blaricum’s Education
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Houston Community College
1978 — 1982
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