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Politics : Foreign Affairs Discussion Group -- Ignore unavailable to you. Want to Upgrade?

To: mistermj who wrote (175622)	11/23/2005 8:19:32 PM
From: Noel de Leon	Read Replies (1) \| Respond to of 281500

1) Your own source supports my point that as oil goes to $100 then other energy sources become viable. 2) 27 billion barrels per year does not take into account that China's demand will increase by some 60% by 2020 India's and Brazil's will increase also. Result is that your 44 years gets reduced by at least 1/3. 3)Increased refining capacity has to be brought on line. That doesn't happen overnight. 4) No new mega oil fields have been found for 30 years. It takes at least 10 years to put a new oil field on line. 5) Oil production for the past few years looks like it's stagnating, worldoil.com