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Despite four years of high prices and warnings about climate change, a new report Monday predicted that world oil demand would rise faster than previously expected over the next five years while production slips, threatening a supply crisis.
In the report, the International Energy Agency, which is based in Paris and advises 26 industrial nations, said that global oil demand would rise by an average of 2.2 percent a year from this year to 2012, up from a forecast in February of 2 percent annual growth from 2006 to 2011.
Originally posted by Inannamute
Finite resource. Infinitely increasing demand..
It's not manufactured scarcity, it's something that can, and will happen..
It's like taking a big bucket of fried chicken.. It will last one person quite a while, but if you put 10 sumo wrestlers in front of it, that chicken's gone before you can say "Who ordere..."