Are We Headed for Another Oil Shock?

As it did in the 1970s, energy demand likely will surge once the world economy expands again. MGI expects demand to grow more than 2% annually between 2010 and 2015, nearly a full point faster than in the period from 2006 to 2010. At the same time, we face a supply picture that is less promising than it was in the 1970s.

Sudden withdrawals of supply led to both 1970s oil shocks