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Look up the term Peak Oil

Not only has supply outstripped demand, as India and China massively increase their dependence on oil, but the supplies are running out. The largest oil fields in Saudi are petering and all the big new discoveries are turning out to be a bust. Here's a good place to start: The politicians are all pointing fingers and acting like the handful of minor fields we have not tapped within our borders will make a difference. They do this by shouting out the most optimistic estimates of what these untapped fields could bear, even though recent world experience is that many of these promised bonanzas have turned out to be busts. The long-term truth is that supplies are running out, costs are not going up, none of the miracle alternatives are bearing fruit or proving cost effective and our society is geared from the ground up around cheap oil. Sometimes there are no good answers. All you can do is hold on and hope you survive the fall.


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