Page added on May 23, 2006
The biggest change since last summer is that Gilbert considers the energy situation to be much more dire than he had previously thought. Last year, he considered $4.00 a litre gasoline in 25 years to be a pessimistic scenario; today, he considers it optimistic. In fact, comparing project growth in demand with the best evidence on projected declines in supply indicates a 25 percent shortfall in supply as early as 2018, twelve years from now.
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