Energy: hurricane warning

An increase in hurricanes in the Gulf of Mexico will push up energy costs in the second half of the year, a new CIBC World Markets study says.

With continued depletion from on-land fields, total U.S. crude production will likely decline from 7.3 million barrels per day in 2005 to six million barrels per day by the end of the decade, according to the report, released yesterday.

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