29 October 2007/ NewScientist.com news service
It is downhill all the way for oil, according to a study by the
Energy Watch Group (EWG) in Berlin, Germany. It reported this week that
world oil production peaked in 2006 - far earlier than expected.
EWG
analysed oil production figures and predicted it would fall by 7 per
cent a year, dropping to half of current levels by 2030. The
announcement comes as oil prices reached record highs last week, at
more than $90 a barrel, and contradicts optimistic projections by the
International Energy Agency in Paris, France.
The
report also predicts significant falls in gas, coal and uranium
production. The group warns that supply shortages could cause "a
meltdown in society", leading to scenes of mass unrest, such as those
that took place in Burma earlier this month when the government pushed
up fuel prices.
Energy and Fuels - Learn more about the looming energy crisis in our comprehensive special report.
From issue 2627 of New Scientist magazine, 29 October 2007, page 5
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