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Depleting oil supplies threaten 'meltdown in society'
Posted on Tuesday, October 30, 2007 @ 20:56:28 UTC by vlad

General 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
Source: Article

 
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"Depleting oil supplies threaten 'meltdown in society'" | Login/Create an Account | 1 comment | Search Discussion
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Jeff Randall's Interview With James Smith (Score: 1)
by vlad on Tuesday, October 30, 2007 @ 23:07:32 UTC
(User Info | Send a Message) http://www.zpenergy.com
This is the full transcript of Jeff Randall's interview with James Smith, Chairman of Shell UK, 29th October 2007.

JEFF RANDALL:
You've spent a billion dollars in seven years trying to find sources of new energy, what have you come up with?

JAMES SMITH:
Well I think this ? we've been working on long term energy scenarios. You probably know Shell does scenario planning so we've been looking out into the coming decades about the energy challenge that's in front of us and actually what are emerging are some hard truths.

JEFF RANDALL:
That sounds worrying.

JAMES SMITH:
Energy requirements in the world I think are going to double over the coming decades, by mid century, and that is going to be driven by economic growth and by demographic growth and that's assuming that we have significant improvement in energy efficiency, so that's built in, so energy requirements will double. Even if with heroic growth in alternative or renewable energy, fossil fuels are still going to be a very important part of the energy mix by the middle of the century. It is 80% today, fossil fuels, by the middle of the century we think it will still be around 60% so what that means is that producing fossil fuels is going to be very important but also for climate change, taking the carbon out of the fossil fuels is going to be a crucial set of technologies. Clean coal technology in particular is going to be important.

...

More: http://news.sky.com/skynews/article/0,,30400-1290717,00.html [news.sky.com]






 

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