Talk:The Collapse/@comment-1538006-20120729004505/@comment-84.3.47.168-20121126205648

Saudi Arabia controls only 20% of world oil reserves, and provides 15% of oil production. (http://en.wikipedia.org/wiki/Oil_reserves) Why did not Venezuela or Russia increase their production, to meet the increasing demand? Or Canada? The sudden increase of oil prices has been observed before in 1973 (http://en.wikipedia.org/wiki/1973_oil_crisis) it was traumatic, but it did not collapse the world.