Accelerated investment by Gulf oil producers would not hurt.
‘Lies, damned lies, and statistics’, a phrase whose origin is still being debated by researchers, is often used to describe the persuasive power of numbers, particularly the use of statistics to bolster weak arguments. It is also sometimes colloquially used to doubt statistics used to prove an opponent’s point. And our point is…?
This: IHS CERA, an energy research consultancy, says in a report published this week that energy companies in the Middle East and North Africa are expected to invest USD 133 billion in 2012, or just under 11% of the total global energy investments this year. The lion’s share of such investments will come from North America and Mexico, which will collectively account for USD 324 billion of the USD 1.23 trillion being spent by energy companies across the world this year.
The International Energy Agency expects the MENA…
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