I was going to post this in the Multinational HQ but then, I thought, what the hell.. You Brits used to have cars before the Americans and the Germans bought up the industry so you must have had to use gas to make them go, too.. So, in that light, I figure you might have something to say on the topic.. How Much Will You Pay before going back to bicycles and horse drawn carts? I gassed up my pony at the pump and the price per litre had gone up 19 cent CAN [ 79.9 per litre ] in 24 hours. every station, regardless of conglomerate had the same price [ to stay highly competitive, of course - no monopoly.. as all sorts of government commissions have proven ] .naturally it pissed me off enough to go out for a drink or ten..and then surf the web for some research... The Chairman of Imperial Oil has said this price ' fluctuation ' is all due to supply and demand and nothing to do with the US invading Iraq, etc..and further.." half of the oil and gas needed in the next 10 years will have to come from fileds not currently in production"... assuming he's at least half right that means 50% of current production will have to be replaced by new.. oil demand is rising at about 2% a year..current global demand is 80 million barrels a day!.. this means in 10 years we'll need to produce 98 million per day... and half that,49 mil, will have to come from oil discoveries that have yet to be made!! To ' fuel ' that search for new sources how high will the cost of ' in-the-pipline fuel ' have to go?..shareholders won't fork out investment funds at $ 25. per barrel.. more likely $ 50 gets us closer... If it costs $ 50 bucks a pop to gas up the SUV , everyone will be switching to a Kia real fast..At $ 500 a month to heat the house.. dig out sweaters... Price of a barrel is running about $ 37 today.. that's up $ 10 in half a year...US pump prices are averaging $ 1.17 US a gallon up 19 us pennies and the price is rising...why? Economic growth - China is running a 10 % increase.. the US economy [ despite the anti-Bushers ] is reviving.. oil prices rising... And the cost of finding new sources [ non-OPEC ] is up 10% since the mid '90's... " to justify future investment oil companies need higher sustainable prices to generate the same returns that were available on projects in the mid-'90's " so they needed $ 18 a barrel to generate a 13% return; today the same return requires $ 28 a barrel.. the cost of finding oil is rising 75 per cent! in costs... So, if the Chairman of Imperial is to believed.. high prices are here to stay.. think of the capital investment needed to develop close to 50 million more barrels of production each day.. [ the Terra Nova production facility off Newfoundland cost $ 3 billion Canuckidollars to pump just 150,000 barrels a day...] Do the math... buy hydrogen cars, electric unicycles or invest in thick soled shoes 'cause we'll be hoofing it around the M-1.. unless of course, NASA and the Euro probes find oil on Mars [ F**k looking for water! ]... Has the North Sea been sucked dry yet?