Fuel demand seems to be unaffected by higher prices, suggesting the U.S. has entered an era of supply at any cost. "I'm a believer in the markets, and price should bring on higher supply, dampening demand," Janet Clark, Marathon Oil Corp. senior vice president and chief financial officer said. She was among panelists at the Deloitte oil and gas conference in Houston recently. BP Plc deputy chief economist Christof Rühl said growing demand will just provide motivation to producers to seek energy elsewhere. "We don't think the world has changed fundamentally, or is running out of resources. We've seen unconventional energy become conventional." For more on this, see the February issue of Oil and Gas Investor. For a subscription, call 713-260-6441.
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