Thursday, May 29, 2008
Pictures speak loudly.
This chart shows reductions in the amount of oil shipped by producer countries. All of the easily accessible, high quality, inexpensive, readily processible oil is gone, class. What's left is hard to get to, costs more to pump and to process, yields less usable end-product (ie low quality), and exists in amounts inadequate to supply world demand. That's reality, and ignoring it won't make it go away.