Whether this number is justified or overblown is something experts can argue long into the night. But since October 2002, the price of oil is up 333% while global demand has risen "only" 9%, from 78 million barrels a day to 86 million now, notes veteran analyst John Olson. "This [situation] is going to get worse unless we get hit by a blunt object [to reduce oil demand]." Olson was one of several analysts and financial planners who spoke about investing in a peak-oil world at the ASPO-USA's World Oil Conference in Houston that was under way at press time. All agreed: traditional energy investing will be hugely rewarding in the near term as commodity prices rise. And, they said suppliers to alternative-energy firms make the best investments in that space-e.g., the companies that make blades and bearings for windmills, or fuel-efficient locomotive engines. "You need to think of energy as an asset class in and of itself-it warrants more than just being a part of your stock portfolio," said Seattle financial planner Jim Hansen, who now lives "off the grid." For more on this, see the November issue of Oil and Gas Investor. For a subscription, call 713-260-6441.

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