WATCHING THE WORLD WEC'S ENERGY FORECAST

With Roger Vielvoye from London In the days of soaring crude oil prices and the belief that supplies would remain tight into the foreseeable future, one of the popular ways of spending those hot petrodollars was to finance an expensive forecast of the state of world energy supplies toward the end of the century. Sponsors were comforted to learn--incorrectly, as it turned out--that reserves would become more valuable year after year and crude prices would take off into the stratosphere.