Official Raw Material Predictions Are Usually Underestimated

It’s amazing how the world experts are usually wrong whenever they predict how much raw materials, such as oil and essential materials, will be available in the future. They like to look ahead ten years or so and invariably paint a gloomy picture. And are wrong.

We estimate, for example, more oil reserves today than we thought we would have ten years ago. The same held true ten years earlier. We find the same for other essentials. Yet the expert's forecasts when they look ahead are always gloomy. (See the Earl J. Weinreb NewsHole® comments.)