[CAMWEST-discuss] resources

Danny Hannan danny_hannan at yahoo.com
Thu Apr 22 00:02:38 UTC 2010

G'day all,
The problem of peak production is not confined to oil.
Many metal and other mineral ores have also past peak production, and with increasing energy costs the costs of mining and refining will also rise rapidly making many low grade reserves uneconomic.
Commodity Prices to Stay ‘High’ as Usage Increases, IMF Says 
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By Stuart Wallace
April 21 (Bloomberg) -- Commodity prices will remain “high by historical standards” as demand rebounds and spare supply capacity and inventories decline, the International Monetary Fund said. 
The S&P GSCI Total Return Index of 24 raw materials is 31 percent higher than a year ago, led by an 82 percent advance in crude oil and copper’s 73 percent jump. The Washington-based IMF raised its 2010 global growth forecast to 4.2 percent from 3.9 percent in its World Economic Outlook today. 
“The tension between rapid demand and sluggish capacity growth is therefore likely to re-emerge once the global recovery matures into a sustained expansion, thereby keeping prices at elevated levels by historical standards,” the IMF said. 
Supply and demand probably have exerted more influence than financial investment on movements in commodity prices during and since the global recession, the IMF said. 
 danny_hannan at yahoo.com 

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