Dudley insisted today that global energy demand is going up, that "the world will need 16 million barrels per day more in 2030 than today." While there's lots of oil and gas out there to meet that demand, said Dudley, it's ever harder to extract -- and subject to political threats like the attack on the In Amenas gas plant in Algeria a few weeks ago. The key to the future, says Dudley will be Russia and the United States, the nation that pumps the most oil and the one that is enjoying the most growth of supply. In the U.S. BP is actively drilling shales and contributing to the supply miracle. In Russia BP is now teamed up with Rosneft -- which bought its stake in TNK-BP in exchange for cash and a 20% equity stake -- and will seek to deploy its shale-cracking technology there.