retired358

Is Cheap Oil Compatible with Growth?

TomF: The pure stats of per capita consumption are misleading in that GDP and climate (e..g., Canada) are a major component.

One needs to look at the consumption of the developing world (China, India, others are a tiny fraction of OEDC - Industrialized countries consumption). What is really scary about those numbers is that they are so small - and does anyone think they do not want to improve their standard of living?

Having spend years in the industry, I do not see where this supply will come from short term (next 20 years).

Crude prices will go up.

The US needs a comprehensive energy policy and congress is incapable of understanding or doing anything constructive in this area.