The Telegraph online is carrying the findings of The Peak Oil group and it doesn’t make pleasant reading. The group warn that the U.K. could begin feeling the effects of a severe lack of oil within 5 years, as oil producing countries are forced to wind down production due to diminished reserves.
Jeremy Leggett, chairman of the group, says “Society has become oil-dependent to its rivets” adding “What we are warning of is a peak in production beyond which will be a fall, potentially a rapid fall, and that will mean a global energy crisis if the analysis is right.” Mr Leggett feels oil companies have deluded themselves and governments about their ability to continue producing at present levels. Oh dear, yet another thing to worry about.
