Oil Supply Fears Overblown

One of the main drivers of global conflict is fear, as it causes self-doubt and emotionally filled wrong-headed decisions. One of the most pervasive underlying fears in the west is that we are on the brink of running out of oil and that our dependency on unstable Arab states is gradually putting a noose around our necks.

While it is quite prudent to shift our dependence away form Arab oil and to develop alternative sources of energy, we should not allow the fear to spiral out of control. Consider the statement by Aramco's CEO that the world has only tapped 18% global oil supplies and that at current growth rates, we will have enough oil for the next 140 years.

The intervening 5-7 generations should be enough time for the ingenuity of the human spirit and mind to develop an answer to the problem.

http://news.bostonherald.com/international/view.bg?articleid=157340