“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