As The Futurist discusses in depth[1], annual world oil consumption has been hovering around 32 billion barrels since about 1982. That means oil consumption, a

As The Futurist discusses in depth[1], annual world oil consumption has been hovering around 32 billion barrels since about 1982. That means oil consumption, at $100/barrel, is $3.2 trillion, or 5% of nominal world GDP. My take away from that is technology has made the oil supply a non-issue. And, it will continue not being a problem for the foreseeable future. It is not a hard resource limit. [1] http://www.singularity2050.com/2011/07/the-end-of-petrotyranny.html http://www.singularity2050.com/2011/07/the-end-of-petrotyran...