Thanks for giving us this (prescient) perspective from 1996. And this was before we knew oil production would peak around now, according to this European watch group.

Not a bad prediction in your last paragraph. I see that China, Japan and S. Korea consumed in sum about 14.5 mbd (compared to our 20.5 mbd) in 2006. (Of course, the oil crisis has not yet hit. Perhaps we have til 2011 before declines set in. Or maybe not.)

The EIA prediction of $24 oil in 2010 shows once again why we must take their optimistic outlook with much suspicion.