Eyeing the bear as blame game starts

From Petroleum Review – Editorial – October 2004:

“Most agree that recent oil discovery has been disappointing, that there is a lack of new capacity and a dangerously small margin of spare capacity. Candidates for blame include – lack of investment by Opec, lack of investment by the oil companies, lack of exploration by oil companies, synchronous economic recovery, rapid demand growth in China and the US, financial markets requiring unreasonably high and quick returns inhibiting investment. There is some truth in all these, but the real question is if we are in a lack of spare capacaity hole, how do we get out?”
http://www.energyinst.org.uk/index.cfm?PageID=954