oil price to crash, page-7

"Currently world uses 4 barrels of oil to only 1 barrel of oil discovered to replace it."

The amount of oil in reserves is not the problem at the moment!

Current estimates is by 2013 oil consumption will peak and then plateau for around 30 years-and some of the reasons for this is the current booming economies will slow down,alternative energy will replace oil to a degree-ie Nuclear power ect.

Refining capacity if that can be believed and middle east unrest is what is sending oil prices up.

You listen to big businessmen like Forbes and Chip Goodyear and they say there is no reason for the oil to be at these prices,and should be as low as $35-$40 and that current prices are hyped up.

Cheers