Why Bush Needs to Control Global Oil Supplies

Sunday, March 7, 2004

Oil Shortages Will Destroy The World As We Know It

Today, world demand for oil is around 80/130 million barrels per day. Supply is now adequate to meet today's demand, but in two years demand will continue to increase, at 4%-6% per year which is conservative. At the same time supply will not be able to exceed 100 million barrels per day. Why?... Sign in to see full entry.

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About this Blog

The Earth is being depleted of its OIL. According to Dr. Kenneth S. Deffeyes of Princeton we have maybe 2 or 3 years before the oil price squeeze boosts gas prices to $30.00 a gallon, and that will drive interests rates through the ceiling. We will then begin the long and devasting passsage through devaluation, recession and depression.

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