BJ"

The decline rate of world oil reserves exceeds the new discovery rate by a fair margin. And that assumes that the Gulf nations were telling the truth when their stated reserves increased over night in one year by 100% as they claimed in the 1980's and are still maintaining. Additionally, consumption by their own populations are requiring an ever decreasing availability for exportation of oil.

Meanwhile we have the 70% of the worlds population represented by the lesser developed nations emerging and their citizens desirous of the looming improved lifestyle they see before them. All of which will require enormous quantities of energy of all forms. Liquids, natural gas, coal, nuclear, solar, wind, geothermal and undoubtedly a few forms I have for the moment failed to remember.

Can you imagine four times as many people desirous to have the gasoline in your tank in theirs? Ultimately, that is what it will boil down to. Who wants that tank of gas, or ton of coal or pound of uranium more? And who will be generating the wealth to acquire that energy? And in that contest we are rapidly losing our advantage here in the west.

Brian