The picture is even more bleak on the demand side of the equation. There is universal acknowledgement of the fact that demand for oil continues to rise, both domestically and worldwide, with no end in sight. This rise in demand, in part has been, "led by China's emergence as a voracious importer of oil." (3). "In India [...] car ownership has tripled in the last decade and is expected to more than triple again by 2020."

On the domestic side, "[t]oday's suburban American lifestyle built around long commutes to work and large, energy hungry houses assumes that low-cost fuel will be available indefinitely." (1). Mr. Roberts may have put it best, when he wrote, "the vast majority of Americans and Europeans are no more aware of using energy than they are of breathing air." (7).

Rising demand with steady or decreasing supply leads to price increases. "The consequences of an actual shortfall of supply would be immense. If consumption begins to exceed production by even a small amount, the price of a barrel of oil could soar to triple digit levels. [] The suburban and exurban lifestyles, hinged on two-car families and constant trips to work, school and Wal-mart, might become unaffordable or, if gas rationing is imposed, impossible." (3).

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Rising Prices