“In 1964, we found 48 billion barrels of oil and used approximately 12 billion barrels. By 1988, we started finding less than we were using. In 2005, we found about 5 billion to 6 million barrels, and we used 30 billion.
These numbers are overwhelming.”

Charles Maxwell
Senior Oil Analyst,
Weeden & Co
Barron’s 10-16-2006