term prosperity of mankind and the health of our environment. While the push for alternatives is important, we must also be mindful that efforts to rapidly promote alternatives could have a “chilling effect” on investment in the oil sector. Growing demand uncertainty increases producers' perceptions of investment risk. A nightmare scenario would be created if alternative energy supplies fail to meet overly optimistic expectations, while traditional energy suppliers scale back investment due to expectations of declining demand for their products. The prospects of supply constraints would grow along with the potential for higher energy prices and lower economic growth. Meeting the needs of a growing global population and the aspirations of billions of people in developing countries for greater prosperity, will require an “all of the above” energy strategy. All BTUs are welcome and needed -- whether they come from renewable energy, nuclear power or fossil fuels. --MORE
