As prices rise in those developing countries, demand will taper off. It's hard to believe that the poeple in those country's can afford todays prices, they can't. This article actuly sheads some light down the road.
When oil was $20 a bl I didn't see the need to use our own oil, for $20 leave it in the grould. Also at $20 I think alot of our oil isn't economicly feasable to exstract. At $120 it is and that's the time not to import, produce it here and keep the money here. There's at least a 140 year supply in the ground that is knowen, alot of which isn't counted.