The U.S. Geological survey made an oil forecast.

The world appears to have enough oil to last until the mid-21st Century, the agency reported. But, it said, because most of the known and undiscovered reserves are found principally in the Middle East, Americans can expect to face several repetitions of the energy crises of the 1970s. In a 25-page report, “World Petroleum Resources,” the government geologists said discoveries of oil appear to be on a permanent decline from a high of some 35 billion barrels per year in the 1950s to between 10 billion and 15 billion barrels annually in recent years.