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World oil and gas supplies are heading for a "production crunch" sometime between 2010 and 2020 when they cannot meet supply, because global reserves are 80 per cent smaller than had been thought, new forecasts suggest.
Research presented this week at the University of Uppsala in Sweden claims that oil supplies will peak soon after 2010, and gas supplies not long afterwards, making the price of petrol and other fuels rocket, with potentially disastrous economic consequences unless people have moved to alternatives to fossil fuels.
While forecasters have always known that such a date lies ahead, they have previously put it around 2050, and estimated that there would be time to shift energy use over to renewables and other non- fossil sources.
Originally posted by Ricko
Heelstone i think your "panicing"
Bush has already put what....3 billion into Hydrogen cars. No need to worry. USA will be the first country that will be using Hydrogen.
Originally posted by insite
Nuclear power would be the most prominant form of energy if liberal minded people would open up to the idea (im pretty liberal by the way, but i can still see the benefit of this form of power). Its not the oil companies who are responsible for the lack of viable energy options, its voters and politicians and limited thinking.