April 2005

Analyst fears global oil crisis in three years
One of the world's leading energy analysts yesterday called for an independent assessment of global oil reserves because he believed that Middle Eastern countries may have far less than officially stated and that oil prices could double to more than $100 a barrel within three years, triggering economic collapse, John Vidal reports in The Guardian.

'Peak Oil' Gathering Sees $100 Crude This Decade
Fresh oil shocks may send prices over $100 a barrel and trigger worldwide recession by the end of the decade, Neil Chatterjee reports for Reuters.

Experts hear oil depletion fear
The world's oil reserves are running out much faster than industry and governments are admitting, BBC News reports.

The twilight zone
We are currently facing the biggest short-term threat to our economic wellbeing that the modern world has ever seen, involving the commodity that society is most dependent on, writes Jeremy Leggett in The Independent.

End of the oil age?
It is beginning to look as if we’ve got to that point – not where we run out of oil – but we run out of incremental flows, and we can’t meet additional demand, Chris Skrebowski says in a BusinessDay radio interview.

Oil tapping out: Crude shortage looms
World oil production is set to peak in the next two years, at which point there will not be enough new projects coming on stream to offset global oilfield declines, Claudia Cattaneo reports in The National Post.

Inevitable oil squeeze draws near
The days of tooling around in automobiles with nary a thought of the cost are probably over, writes David R. Francis in The Christian Science Monitor. That's because the world's oil production is rapidly approaching its peak.

The end of oil is closer than you think
Oil production could peak next year, John Vidal reports in The Guardian.

Odac warns of global shortage of oil after 2007
The world faces a global oil supply shortage after 2007, which would threaten economic growth, according to new research by the Oil Depletion Analysis Centre (Odac) which says that not enough major new fields will come on stream to offset declines, Valerie Darroch reports in The Sunday Herald.

Economies stare down $105 barrel
At this moment we are producing enough oil to meet demand, just. But later this year it is predicted that demand will outstrip supply, Douglas Low writes in The Edinburgh Evening News.

Bank says Saudi's top field in decline

Speculation over the actual size of Saudi Arabia's oil reserves is reaching fever pitch as a major bank says the kingdom's - and the world's - biggest field, Gharwar, is in irreversible decline, Adam Porter reports.

ASPO Workshop To Debate Proposed Oil Depletion Protocol

Four current and former elected officials will discuss a proposed international agreement to limit the economic impacts of global oil depletion at a two-day workshop in Lisbon on 19-20 May 2005.

What Will We Eat When The Oil Runs Out?

A three-day international conference to explore the impacts of oil depletion, environmental degradation and globalisation on the world's food supplies will take place at University College Dublin on 23-25 June 2005.

Complacency and the Threat of Diminishing Oil Reserves

Oil companies have created a "false sense of security" about future oil supplies, according to a report from Mellon Global Investments.

World Oil and Gas Production Must Nearly Double by 2020

Meeting growing demand for oil and gas will be "an enormous challenge for the energy industry", ExxonMobil Senior Vice President Stuart McGill has told financial analysts in New York.

IEA Oil Projections Revisited

Relying on a range of "questionable" assumptions, the International Energy Agency presents unrealistic forecasts of oil production growth until the year 2030 that are "a prescription for economic disarray", according to an updated independent analysis by Danish energy consultant Klaus Illum.

The Oil Depletion Analysis Centre:

140 Fortess Road

London NW5 2HP

ENGLAND

http://www.odac-info.org

Email: odac@btconnect.com
Phone: +44 (0)20 7424 0049