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


To: Lazarus_Long who wrote (175882)11/26/2005 10:27:31 PM
From: bentway  Respond to of 281500
 
There are many factors. The shortage in 1973 was entirely artificial, created by OPEC. The current supply constraints are caused by worldwide demand. Chindia has 2 billion people that want to drive, own a car, and live like Americans.

You're right, I have no idea how much oil is on the planet, but the easy oil is running out. I've got an long term investment bet in oil sands, and it will pay if the price of oil stays above $50 bbl. I think it's a fairly safe bet at this time. In 1999, just six years ago, a bbl of oil was $10.