According to the International Energy Agency, the world oil demand
growth rate is approximately 1% per year. The
upward trend is real and cumulatively even repeated 1% growth makes a
difference over a decade. Those results are estimated for the world in
stagnation. And if global economic growth quickens, world oil demand
will quicken too. This has the look of a serious problem. Nations need
energy and energy sources. Japan once went to war over oil reserves.
The Americans have a number of responses but one is probably not to
decrease exploration. Another would be to be picky about the type of
energy they develop. Natural gas looks like a Godsend but seems to be
off the current administration's moral radar because it produces carbon,
an evil element and on the Index.
As the pie shrinks, manners decrease.
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