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Demand for Energy Will Increase<br />

Oil Consumption per Capita (bbls)<br />

30<br />

25<br />

20<br />

15<br />

10<br />

5<br />

• Per capita consumption of<br />

oil in large emerging<br />

economies is a fraction of<br />

the OECD average<br />

• There are 3 billion people in<br />

fast growing emerging<br />

economies<br />

0<br />

United<br />

States<br />

OECD<br />

Average<br />

Japan Germany China India<br />

• As standard of living<br />

improves demand for energy<br />

will increase<br />

Source: Simmons & Company International<br />

-10-

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