Recently, the International Energy Agency’s Chief Economist Fatih Birol was quoted as saying,

In the next 10 years, more than 90% of the growth in global oil production needs to come from MENA [Middle East and North African] countries. There are major risks if this investment doesn’t come in a timely manner.

While I agree that we need more oil production, I think we are kidding ourselves if we expect that 90% of the needed growth