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IEAs Fatih Birol on Consequences of High Oil Prices

Youtube text: The IEAs Fatih Birol discussing the implications of high oil prices. 18 Febuary 2013.

Birol does not expect major supply crisis this year, but is bothered though about high oil prices, 118$/barrel, first of all for Europe. Total oil & gas bill will hit 500 billion euro, 200 billion euro higher than historical average and 1/3 of the European stability funds.

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