For those thinking we have enough oil and gas, you may want to take a gander at the data Mr. Simmons has put together. I am solidly in the “there is not enough” camp.
When do we feel the pain of that? We’ll, consider two successive quarters of -6% GDP growth in the US (and a third that looks only marginally better), the consumer of 25% of all the World’s energy and we still have $66 a barrel oil (USO). What happens to the price of oil when we actually begin to grow? $90?? $100??? $150??
Please take a close look at this…
Simmons “Two Oxymorons: Energy Independece, Security”
Disclosure (“none” means no position):