Quote:
Originally Posted by Frank Lee
Not only that, america is a nation of immigration, breeders, and immigrant breeders. Even if per capita use drops, the net sum of this game is rising consumption until the supply peters out and/or the costs of alternatives become more than competitive.
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I dunno Frank. Oil consumption in the late seventies was ~19mbpd, and today it's ~19mbpd. There are almost a hundred million more people now compared to 1975, but use hasn't increased much. It looks like oil consumption is bounded at ~20mbpd, and will remain that way even as population increases until it drops depending on all sorts of elasticities.