The long-run demand for oil (oil production).
For the supply side, you’ve got a problem. There are no new wells in the world, and with the world’s population increasing at an unprecedented rate, the demand for oil will outstrip the world’s existing supply. In the long run, that means that there will be a lot less oil than we can produce.
As with all supply-demand-optimization problems, you need to have a lot of variables to come up with a good solution. In this case the problem is that we don’t know what we’re doing with the demand side (or the supply side, or both).
It’s one thing to say, “we have this new drilling technology and we dont have any oil. Let’s just drill another one until we can find enough, and that will solve the problem we have now.” But when we say that the problem we have now is the amount of oil we have, then we mean that we cannot even produce more oil that we have now, because we will run out.
I mean, this is why we need to look at the supply side, why we need to look at the demand side, why we need to look at the technology, why we need to look at the price.
The problem is that oil companies can’t produce more oil because they haven’t found any more oil. Even if they could find a huge new deposit of oil, it would take a long time for them to drill and produce the oil. In fact, there are plenty of places that no longer have very much oil, and they are becoming more and more rare as the price of oil goes up and up and up.
What’s happening is that a lot of the oil that is sitting in the ground is being depleted. The problem is that the demand for oil is actually increasing. Because we can now produce more oil than ever before, companies are finding more oil, and they are not finding it at a price that meets their production costs. In other words, the price of oil is now rising. In fact, as of today, the price of oil has risen a whopping 20% in the past year.
The demand for oil is driving up the price of oil. But as the demand for oil increases, the price of oil goes down. And in fact, as the price of oil goes down, the amount of oil that we can produce goes up. The problem is that the demand for oil has been increasing at such an accelerated rate that it’s not really a question of if, but when demand for oil will peak.
The good news is that there is some good news. According to a new report from the Energy Information Administration, the amount of oil that we can produce in the US has been growing at the fastest rate since 1973. The bad news is that it’s only been a year, but it seems like it could be quite a while before we can produce all that oil we need.
The good news, the bad news, and the really good news are all connected. According to the EIA, we can currently produce between 300 and 400 billion barrels of oil per year. That’s the good news. The bad news is that it seems like it could be quite a while before we can produce all that oil we need. In a lot of cases, this means that we’ll never be able to produce the oil we need.
