Monday, August 3, 2009

Chief Economist Says Oil Supplies Running Out Fast

"Predicting exactly when peak oil will hit is somewhat like reading tea leaves -- transparency is reserve data is so lacking that opacity is a better descriptor and the current economic downturn doesn't help -- But one thing is beyond a doubt: Oil fields are becoming depleted much faster than thought just two years ago and the end of cheap oil is decidedly over. That's the word in The Independent from International Energy Agency chief economist Dr Fatih Birol"

Click Here for the full article

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.