ProgMeister
2008-09-09 10:08:07
Also, saying “We have 4% of the world’s oil reserves,” is incorrect. The current, proven reserves are closer to 16%
you need to move the decimal point; we have about 1.6% of proven reserves by conventional measurements (CIA)
As far as China, India and the whole demand fallacy, do a bit of research, you will find that while demand has increased, supply has increased as well, more than the demand, thus supply and demand does not explain the high prices.
correct .. but China and India are growing; the future is not about oil
