This is because there is a long-term upward trend in demand. In the West, we use more devices in the home - and in the US, new homes are actually getting bigger, requiring more energy for space heating; and in the developing world, people are keen to join the consumer lifestyle - "Next year, emerging market energy demand will surpass industrialized countries' energy demand for the first time in history". Meanwhile, extraction costs are rising.
Puplava sees 3 themes in relation to the energy market:
- new types of transportation (e.g. hybrids), or more use of old types (e.g. railways, barges)
- substitute fuels (e.g. ethanol) / alternative energy resources (especially nuclear, solar and wind)