[sam h]

Thanks Mostro.

Follow up question: If there may be a "hard" ceiling on annual worldwide oil supply, one that will clearly not be sufficient to meet demand without a major change in consumption patterns, then why do arguments for or against the idea of a pending oil crisis tend to focus upon the size of reserves? It seems like that is relevant, but kind of beside the point. As long as annual supply capacity has a ceiling that demand will outpace, the crisis (at least in terms of continued high prices or rising prices) is coming no matter how much is down there.