James Woolsey on ending the oil era

Some people think it will be much more difficult in the future because the Saudi Arabian oil fields could be peaking, if not now then soon. We will also have huge demand, not only from the West but from India and China as they start to produce middle classes that drive cars. So the Saudis might not be able to drop the price to five or ten dollars a barrel by turning on their excess capacity, but they might be able to drop it to $20 per barrel. Most of the better of these alternative fuels are only really viable, (as far as we can see) if oil is say $35 per barrel or more. The one that

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