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Wednesday 9 December 2015

December Short-Term Energy Outlook forecasts non-OPEC production decline in 2016 (12/9/2015)

The Short-Term Energy Outlook (STEO) released on December 8 forecasts non-OPEC crude oil and other liquids production to grow by 1.2 million barrels per day (b/d) in 2015, and then decline by 0.4 million b/d in 2016, which would be the first annual decline in non-OPEC production since 2008. The shift in expectation from non-OPEC production growth to declines in 2016 is mostly because of declines in U.S. onshore and North Sea production (Figure 1). Non-OPEC production growth in 2015 is largely attributable to investments committed to projects before the oil price decline that began in mid-2014. Redirection of investment away from exploration towards currently producing fields has also helped maintain or increase production levels in other non-OPEC countries. This strategy has helped maintain production levels in the short term, but it will likely result in lower future production in areas that depend on continued exploration successes for output growth. ... More »

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The Stages Of A Scam

1. Foundation Work: This is the preparations which are made before the scam is put in motion, including the elaboration of the plan, the employment of assistants and so forth.

2. Approach: Is the manner of getting in touch with the scammers victim — often most elaborately and carefully prepared.

3. Build Up: Rousing and sustaining the interest of the victim, rousing his emotions, showing him the chance of profit and filling him so full of anticipation and cupidity that his judgment is warped and his caution thrown away.

4. Pay-off or Convincer: An actual or apparent paying of money by the conspirators to convince the victim and settle doubts by a cash demonstration.

5. The Hurrah: This is like the dénouement in a play and no scam or con scheme is complete without it. It is a sudden crisis or unexpected development by which the victim is pushed over the last doubt or obstacle and forced to act. Once the hurrah is sprung the victim is clay in the scammer's hands or there is no game.

6. The In-and-In: This is the point in a scam act where the conspirator may put some of his money into the deal with that of the victim; first, to remove the last doubt that may tarry in the gull's mind.