Letter Re: Five Years to Just 50% of the Current U.S. Oil Supply
Dear Jim and Family, I have bad news. An analyst with an oil background did a study on the oil producing nations and found they would stop exporting 50% of their oil in around 5 years, averaging decline of 10%/year to total world oil exports. The USA is 60% dependent on imported oil, and is currently growing 7% of our needs via ethanol (corn). As we’re in the process of losing Mexico at 15% per year and will see them encounter some social breakdown in 11-17 months time due to loss of exports and tax revenue for their social services, …