Whom to blame for oil crises???

Question

Oil crises ramping-up day by day, U.S consumes around 26% of total world consumption. U.S oil experts claims that Chain and India is the reason for it, but those countries consumes only 8 and 3% respectively. Is that claim makes sense?

Look at consumption details here http://www.nationmaster.com/graph/ene_oil_con-energy-oil-consumption

Answer 1

The oil crisis is explained by Hubbert's peak theory. You should blame the media for not explaining the realities of life in the 21st century.

Cheney seems to have done his part in sharing information about this phenomenon.

Answer 2

There are any number of ways to explain this.  First, the chart is nice, but is point in time..you really need a trend graph.  One can blame the crises on India and China if their oil use is increasing faster then the U.S.'s.  Also, the graph only gives you consumption, not production, so you don't know who is putting the most pressure on export markets.  

Consumption is only half the equation, production also needs to be addressed - there are a number of world crises putting pressure on production and reducing supply now or possibly in the future (the war in Iraq, Nigerian civil war, hurricanes in the Gulf of Mexico shutting down oil rigs, etc.).  This then puts upward pressure on prices.  

Soapbox - too many people want simple solutions to a complex problem (alternative fuels tomorrow, drilling in ANWR, higher CAFEs, whatever).  Complex problems take complex answers, none of these is a magic bullet that will slve our problems by themselves.