Despite a steadily improving economy in the US, the same cannot be said for much of the rest of the world. And while there are strong and growing economies in places like China that can literally give the US a run for its money, there is one undeniable fact that many believe can and will eventually bring the world economies to a devastating state – we are using far more energy than the world’s oil reserves.
Dr. Stephen Leeb, who holds degrees in economics, mathematics, and physics, writes in his book, The Coming Economic Collapse, “The crisis is energy-related and will be brought about by the conflict between rising global demand for energy and our growing inability to increase energy production.” The supply and demand dynamics of oil are so out of balance that Leeb predicts it will not be long before we see crude oil at $200 per barrel!
In Dr. Leeb’s first book, The Oil Factor, which was written several years ago, he predicted the price of a barrel of oil would go to $100. It did reach a high of 113.00 in 2011. And while prices have dropped since then — largely due to stepping up in US production — they are trending back upward and are currently around 75.00 a barrel.
Professor Leeb’s concepts are still valid — oil is still a limited resource. He just may be off by a few years, just like Orwell. 2018 is right now looking a hell of a lot like his “1984.”
Most of us are woefully in denial about how much oil there really is remaining in the world’s oil reserves. We have been lulled into this ridiculous notion that the supply of oil is limitless.
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