I believe the Mackenzie figures are overstated, many companies are holding production flat with no extra Capital spending, and they expect to do this for the next few years (up to 5 years) then they'll start to see a decline in production. Take a look at the majors production vs capex, its all down to efficiency's. Supply wont be dropping off for a few years yet, but a crunch will come. Hopefully demand stays strong.
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