The oil investments required may be much, much higher than what people assume. This is a dangerous situation.
We are of the opinion that the public isn't aware of the role of the decline rate of existing fields in the energy supply balance, and that this rate will accelerate in the future.
~ Fatih Birol, the IEA's chief economist, "Energy Watchdog Warns Of Oil-Production Crunch" (front page), WSJ, May 22, 2008
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