Chevron Texaco Corp.CEO David O'Reilly has his finger on the world's oil pulse,noting on Feb.15 that the era of cheap petroleum is over."We're seeing the beginnings of a bidding war for Middle Eastern oil between East and West," he said.The coincidence of rising oil demand and the decline in its production by members of the Organization for Economic Cooperation and Development has produced an "inflection point," O'Reilly said.
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