Analyst: Oil shortfalls to drive price increases, dictate alternatives

Oil and Gas Journal: Analyst: Oil shortfalls to drive price increases, dictate alternatives Excerpt:
The world is facing a future of oil price increases that will occur sooner than many people now believe, concluded Canterbury, England,-based energy analysts Douglas-Westwood Ltd. in the third edition (2004-50) of its World Oil Supply Report published Wednesday.

Leading to that judgment are three fundamental findings study author Michael R. Smith of EnergyFiles Ltd. said were “strongly evident” from the study: increasing oil demand coupled with falling reserves and a decline in discovery.