World Energy Future

"In this scenario from IEA, the world's rising demand for fluid fuels will be met by growing unconventional oil and natural-gas liquids production, but only if OPEC expands its production of crude oil."
CREDIT: INTERNATIONAL ENERGY AGENCY'S WORLD ENERGY OUTLOOK 2008
via Science magazine.

Comment: This scenario is pretty grim. The marginal cost of oil is going to have to support:

• finding new fields, assuming that they are there to be found,
• developing technologies for extraction of non conventional oil sources,
• and developing a delivery infrastructure for use of natural gas.

Lets increase taxes on gasoline now so that demand goes down and there are incentives to find alternatives, as well as incentives to improve energy conservation.