Terrorism and the race for resources

The US Department of Energy (DoE) predicted in 2004 that world oil demand would rise from 77 million barrels per day (mbd) in 2001 to 121 mbd in 2025 – an increase of 57 per cent.

According to the DoE, this increase in demand would be met by Saudi Arabia, the states neighboring the Caspian Sea, Iran, Iraq, Kuwait, and Nigeria.

The DoE foresaw a gradual increase of Saudi production up to 120 per cent – from 10.2 to 22.5 mbd, an increase of the Caspian Sea producers of 8.5 mbd, a combined increase of Iran, Iraq, and Kuwait of 7.6 mbd, and an increase of Nigerian output of 1.6 mbd.

But last year, Houston-based banker, oil investor, and oil analyst Matthew Sim-mons published a book,