Well thats not even double yet the price of oil since 1970 has gone up over 400%. And the USA consumption has not gone up that much either.
That is why I have always said its mostly about the dollar and the other issues are really non issues. Those other reasons may be real but have a lot lesser impact on the cost of oil and other goods than the sinking dollar.
I mean are we at peak gold too?
Thanks for the link
Quote:
Originally Posted by ADL Colin
http://www.eia.doe.gov/ipm/demand.html
You can download the worldwide demand data for 1970-2007
We're using about 85 million barrels per day now compared to 47 million barrels per day in 1970. The peak oil debate is about how much more than 85 million barrels per day we might be able to produce.
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