It is amazing to show people a few charts and get their opinion. I showed these two charts to a few people and they were stunned. The "common" knowledge was contrary to what they have heard in the press and media.
Supply of facilities and our ability to turn oil into gas has fallen. The demand for gas has definitely increased so even if we had all the oil we wanted we could not turn it into gas because of the environmental restrictions that continue to be in place.
Saudi Arabia's Ghawar reserve has nothing on North America oil reserves and this is EXCLUDING the hot topic of ANWR in Alaska. The charts make politicians debate on Alaska look silly.
We have enough energy and technology here in North America to supply our homes and vehicles with energy for as low a cost as we have the political will to attain. It seems we have a high pain tolerance for pain at the pump because we keep electing the people who refuse to change course and implement true supply side policies that will bring our energy costs down in an environmentally friendly manner.
However we continue to elect people who restrict the supply side of our "supply & demand equation". Supply and Demand works whether you want it to or not!!
That is why we are looking at $150 to $200 per barrel if current trends hold.
Chart Sources: CARPE DIEM
