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Politics : Foreign Affairs Discussion Group
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To: Ilaine who wrote (135379)6/2/2004 6:27:45 PM
From: Noel de Leon  Read Replies (1) of 281500
 
"Next year, when consumption is even higher, won't production be higher, too?"
This assumes that there is more than enough oil to be produced. This is an incorrect assumption.
New oil fields are being found at a replacement rate of 25%. Demand is increasing(by 2020 it is predicted that demand will be 65% higher).
The book Hubbert's Peak is a good place to start understanding the coming oil situation.
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