IEA's Sees Increased Risk of Oil-Supply `Crunch'

[Daal]

'cheap energy era is over'
http://www.bloomberg.com/avp/avp.ht...//media2.bloomberg.com/cache/vkhz3WpjIZA4.asf

 

[377OHMS]

Some very real demand destruction out there.

 

[Daal]

Quote from 377OHMS:

Some very real demand destruction out there.

true. but unless we are into a new era in history where human civilization is in permanent decline demand will continue to grow in the long-run

 

[jsv416]

http://biz.yahoo.com/ap/081112/eu_w...gy_outlook.html

Key point from this article:

"Fatih Birol, the IEA's chief economist, warned that even if growth in oil demand remained static in the years to 2030, production would need to increase by 45 million barrels per day, "which means bringing four new Saudi Arabia's on stream."