This graph says it all and it would be wise for you to understand the ramifications of what this graph tells you and prepare for its impact in the near future. Look at the dark blue section “Crude oil – currently producing fields”. That is the oil coming out of all of the world’s oil fields, the primary source of gasoline, diesel, and jet fuel today. The perception created by the government, the “managed” markets, and the media, is that there is no problem. That is the deception.
The IEA (International Energy Agency) has been projecting optimistic supply vs. demand numbers due to pressure by countries such as the U.S. By painting an optimistic future, oil prices have been kept at manipulated lows allowing the U.S. to reduce the negative economic impact of energy as it attempts to keep the “wheels on the economic wagon”. $147 oil showed everyone the destructive force affecting growth of the economy (except the oil producing states).
The lighter blue area on the graph represents “oil fields yet to be developed”. That is looking pretty optimistic as well. This is all on the backdrop of a growth expectation of 105 million barrels of demand expected over the life of this graph. For those who understand the impact of this delta, they will modify their lifestyle accordingly. $4 natural gas is a travesty given that this energy crisis needs a higher price to curb cheap energy decision-making. Higher prices conserve energy whereas $4 natural gas sends the message that “all is well”.
The IEA has been reducing its expected demand from 120 million barrels per day down to 105 million barrels for this graph. Hey, I could even get a job with the IEA if they just need someone to play with numbers and graphs. There is dissent within the IEA about these numbers. The world is closer to running out of oil than the IEA is willing to admit. Panic buying in the oil pits is ahead!
There will notable declines in oil production which may cause a world economic crash. If the populous understood this graph, hoarding would deplete finished product supplies overnight. Prices will spike to $300+ for a barrel of oil equating to $10 gasoline in the U.S. The current U.S. economic environment cannot stand this energy shock. Management by Perception is mandated as an attempt to deceive the public into thinking that everything is going to be alright and to keep spending and buying those SUV’s.
Suppressing information is deception, no matter how you cut it. Manipulating perception is deception. This is so serious that we as individuals cannot afford to wait until the wheels come off the wagon before we take a defensive posture.
See: http://www.guardian.co.uk/business/2009/nov/15/oil-industry-peak-oil-projections