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8% is the magic number in the North American oil industry these days. First, BP institutes a pipeline closure that results in an 8% drop in total American oil capacity, and now Pemex is announcing that its Cantarell oil field, the world's second-largest, will drop 8% in production this year. Hear that? Yes, people, it's the sound of gas prices on signs having their numbers replaced with "2nd Mortgage" and "You Can Live on Only One Kidney!"

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Pemex Says Cantarell 2006 Production to Decline 8% [Bloomberg]

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