I ran across this on the drudge report. Though you might find them of intrest http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/6299291/Energy-crisis-is-postponed-as-new-gas-rescues-the-world.html http://bloomberg.com/apps/news?pid=20601087&sid=aA6_py_71g_o http://www.breitbart.com/article.php?id=CNG.3c2cf2ed926d0f380377814047968b22.991&show_article=1
Thanks for sending me this very interesting link, which is included below so all readers of this blog can consider it. The link you sent reports that natural gas reserves are growing larger as new deposits are found and as new technology makes more natural gas recoverable. It reports that the USA and Norway have especially been successful at discovering new deposits of natural gas. Also, a blog I did months ago reported that the Israelis located a major natural gas field in the Mediterranean Sea just off their coastline so they will also have more energy of their own.
This is all good. However, keep in mind that it can take years to bring a new natural gas field into actual production (especially if it is at the bottom of the ocean). We do not know how soon this new natural gas will actually reach customers. Also, these new discoveries were for natural gas, not oil. Autos (and much of the world’s industry) run on oil and oil products and many industries are not readily convertible to using natural gas. As an example, how soon will automobiles in the world be able to drive to a service station and fill up their cars with gasoline that was reprocessed from natural gas. That might be many years away.
If the western world located new oil fields within their borders, it would really help a lot!