engawork,

you beat me as I was going to ask the very same question.

I read the site ad was instantly mesmerized with the gloom/doom predictions.

It seems that after the Enron scandal, that all the major oil companies are reporting that their reserves are not what they had claimed. It seems some of the CEO's don't want to go to jail.

What is amazing to me is that hardly anyone stops to think of if/when we run out of oil.

My wife's uncle is a Canadian and he tells me that Canada has tremendous amounts of oil, surpassing even the middle east.

He adds, that the reason they buy it from the middle east is that it is much cheaper than drilling for it in Canada. I don't remember the figures exactly but he mentioned that Canada could produce a barrel of oil for appox 28 dollars, while the middle east produces it for a lot less.

Assuming this to be true, I would imagine that we will continue sucking the middle east dry, then we will be faced with much higher oil prices when we have to buy Canadian oil.

What I would imagine happening over the next 20 years or so is continued price increases as a result of dwindling supplies of "cheap oil", which will change the way some of us think regarding our love for SUV's and other gas guzzlers.

Imagine some poor shmuck filling up an expedition if gas were to hit $3.00 a gallon? "That'll be $90.00 please"

Talk about a major lifestyle change.

I could see it affecting the econmy of this country in a devastating way.

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