Peak OIL 2014 -- The World is sleepwalking to a Global Energy Crisis

All signs of desperation, Albert. The party's about to end and the most greedy people are getting as bladdered as they can, and stashing away their own private supplies before the booze runs out.
Sad, and also childish.



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Lewis also referred to US Energy Information Administration (EIA) data showing that although global crude oil exports increased "year on year from 2001 to 2005", they "peaked in 2005 and have been trending down since 2009." Lewis attributed this trend to rapidly rising populations in the Middle East which has led to escalating domestic oil consumption, effectively eating into the quantity of oil available to export onto world markets.

http://en.wikipedia.org/wiki/Export_Land_Model

It models the decline in oil exports that result when an exporting nation experiences both a peak in oil production and an increase in domestic oil consumption. In such cases, exports decline at a far faster rate than the decline in oil production alone.

Rising price makes oil producing countries richer, this increases local demand as those countries use the cash for social programs for their country. This leaves less to export