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Regular News: Issue 341 19 Aug 2008

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‘Severe fuel rationing inevitable within next decade’

Analysis of the world’s oil supplies by a leading energy forecaster has shown that severe fuel rationing is “inevitable” within the next decade.

Dr Michael Smith, chief executive of Energyfiles, told the Reducing Rail’s Carbon Footprint conference, that if demand for oil continues rising at the average rate of the past 20 years (1.8% a year), global oil supply would be unable to match demand as soon as 2012. By 2020, the shortfall would be a huge 22 million barrels per...

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