Russia is now embarking upon an audacious plan-they want to be the No. 1 retailer of gasoline in the USA! President Putin was in NJ last month-for the opening of a New “Lukoil” gas station! (The Russian olil firm Lukoil had purchased Getty Oil, and its stations). How is this happening? According to the eggheads at Harvard University (remember “ENERGY FUTURE”?) -they predicted that Russia would BE ANET IMPORTER OF OIL, by the 1990’s, and WOULD RUN OUT OF OIL (totally) by 2003! Now, we read that Putin is confident of displacing Saudi Arabia as the major worldsupplier (this is a GOOD thing!).
My question: where doid all of this oil come from? The energy gloomand doom types were telling us that the world is running out of oil…seems like the Russians have a whole lot of the stuff!
So what kind of world will we have…if petroleum is still abundant into this century, why should we worry about the Middle East? Seems like our energy startegists are batting zero…does ANYBODY really know how much oilis left?