http://news.independent.co.uk/business/news/article2966842.ece">Oil industry 'sleepwalking into crisis'
Former Shell chairman says that diminishing resources could push price of crude to $150 a barrel
By David Strahan and Andrew Murray-Watson
Published: 16 September 2007
Lord Oxburgh, the former chairman of Shell, has issued a stark warning that the price of oil could hit $150 per barrel, with oil production peaking within the next 20 years.
He accused the industry of having its head "in the sand" about the depletion of supplies, and warned: "We may be sleepwalking into a problem which is actually going to be very serious and it may be too late to do anything about it by the time we are fully aware."
In an interview with The Independent on Sunday ahead of his address to the Association for the Study of Peak Oil in Ireland this week, Lord Oxburgh, one of the most respected names in the energy industry, said a rapid increase in the price of oil was inevitable as demand continued to outstrip supply. He said: "We can probably go on extracting oil from the ground for a very long time, but it is going to get very expensive indeed.
"And once you see oil prices in excess of $100 or $150 a barrel, the alternatives simply become more attractive on price grounds if on no others."
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I keep telling you all that as my fellow brothers and sisters I love you all and I want you to think about this problem and decide for yourself. Don't listen to those who would drain every last dollar from your pockets before they will tell you the truth about what is really driving world events here in the 21st Century. Any dreams of human advancement in slowing aging or building colonies on other planets will NEVER be realized. Our efforts now should be on how we will all survive once the world stops moving. And, God willing, most of us here will be alive to witness the end of the Petroleum Age.
If you don't believe in what is about to happen to us all, ask yourself why Bush and Moon and many other rich people are preparing their post-petroleum bunkers. I don't have to mention Paraguay, do I?
Please, at least look at it.