Report: Oil Industry Can't Produce Enough Gas

from National Public Radio

The Wall Street Journal reports that a draft of a National Petroleum Council study, commissioned by the government, says demand for energy will grow 50 percent in the next 25 years. The report says the world will need to develop all the supplemental sources of energy it can — from bio-fuels to nuclear power — to meet that demand. The industry study also concludes that gas prices will stay high for decades. Gas rose to more than $3 a gallon again Sunday, it's now 6 cents higher than the average price three weeks ago. Soaring gas prices are good for Exxon Mobil. The company leads Fortune's list of top earners this year.

Broadcast Dates

• Morning Edition, July 16, 2007