Tuesday, 13 May 2008

The Crude Fact

Jeremy Leggett, writes in the "comment is free..." blog of the Guardian. He has an interesting commentary intitled: The Crude Fact which nicely sums up the problem of peak oil . The notion that, when the global extraction rate of oil reaches a maximum value and starts decreasing. Resulting in supply shortages of an ever more energy hungry world, giving rise to high oil and energy prices.
Sadly mainstream media has been ignoring the problem in years gone by. But it seems to me that the problem has seen a bit wider coverage this year. This has been helped along a lot by top oil company bosses like the CEO of Total and Jeroen Van Der Veer the CEO of Royal Dutch Shell supporting the notion that oil supplies around the world are very tight and a real supply problem exists.

Image from: www.suburbanhousehunters.com

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