Oil and natural gas demand continues to rise around the world. Oil producers are struggling to meet global demand. Depleting supply in America has traditionally been offset by easy access to foreign oil, but most of the demand growth today lies outside of North America. China and India account for most of the yearly world growth in oil demand of between 1 million and 1.4 million barrels per year. At the same time non OPEC production growth is estimated to increase by only half this amount. This growing international imbalance will continue to support higher oil prices for years to come.
Domestic demand for natural gas is rising over the long term, with almost every new home in North America configured to use natural gas. Experts are expecting natural gas demand to continue to grow significantly by the year 2020.
Companies with petroleum reserves that are quickly accessible in the US and Canada will benefit significantly as these imbalances continue to grow.
Lexaria is currently focused on locating and producing conventional onshore light oil resources to realize the immediate financial benefits this strategy brings to the company and its shareholders.
Time to Wake Up: Days of Abundant Resources and Falling Prices Are Over Forever, by Jeremy Grantham was published in April 2011 and is a must-read. Read it using the link below, or go to Grantham's site at www.gmo.com where you can review this and other information. (Lexaria Corp. has no affiliation of any kind with Jeremy Grantham.)
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Lexaria publishes Ghawar reserves white paper
A ground-breaking white paper report on dwindling reserves in Ghawar, the world's largest oil field. Prepared by petroleum research scientist Stuart Staniford, this comprehensive report looks into evidence suggesting that the reserve levels are much lower than the world suspects.
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