Some things that he does not mention but I have theorized about that BACK UP his argument are this: for the last 25 years or so,technology has been the only reason that the inelastically demanded oil has not become way more costly. Mainly the ever increasing mpg of every vehicle. As car guys we know that the family 1970 Buick wagon got 6-11 mpg only after its point/plugs/carb were set. Even the sport flukes of today not only get more mpg, but they stay in tune forever. Even such technology such as computer/internet /email is an oil saving thing.
All this has occured while America has more than doubled miles driven in 20 years. Of course , we just cant get it in our heads that growth is a bad thing that will soon make everything more chaotic and expensive. With our insistance on growth and no immigration enforcement, and our aging infra structure, we are basically going to have a sort of rebuilding of America. This can have soom good in the form of opportunity, problem is, this isnt 1970, so it will cost way more and produce way less for the $ when its done. Why? because of environmental regs, ADA, quota, EEOC laws, bureaucracy, more civil suits etc.
Lundbeurg has said that oil Co are shooting for a $2/gal mark. And we know that after adjusting , a gal of 1986 gas is still higher than now. Everything in America is about to cost more because we are trying to be everything to everyone. And people love population growth for some reason-maybe it makes them feel like their area is "on the move, and hip".
The only motive I can see this guy having is maybe he is a flaming liberal who hates oil and this is his trojan horse way of arguing America away from oil. I dont think so though and do see him as more right than wrong.
UNGN: I got some Richmond 6 speed news-they found problem on their sychronizers! That they didnt even realize was there. I need t o PM ya.