World Oil Supplies Adequate to 2030 If...

Ronald Bailey | November 7, 2005

The International Energy Agency issued its World Energy Outlook 2005 report today which concludes that with sufficient investment ($17 trillion) in infrastructure and exploration that world oil supplies will meet demand at least until 2030.

The bad news? Most oil reserves are owned by governments and governments are not known for their business and investment acumen. Futhermore most of the increase in oil supplies will come from Middle Eastern countries whose devotion to liberal politics is somewhat limited.