Stories tagged with Lord Oxburgh

Lord Oxburgh Warns Oil Demand To Outstrip Supply

Posted by Chris Vernon on September 16, 2007 - 12:30pm in The Oil Drum: Europe
Topic: Supply/Production
Tags: aspo, Lord Oxburgh, plateau [list all tags]

The former non-executive chairman of Shell UK will issue a stark warning about the world's oil supply at a conference in Ireland later this week. Lord Oxburgh expects that global oil demand will outstrip supply within twenty years as production hits plateau, and that the oil price could hit $150 in the long term. He accuses some in the industry of having their heads "almost in the sand" about oil depletion, and concludes "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".

Lord Oxburgh will deliver his speech entitled Out of Oil, Into Hot Water at the Cork conference Association for the Study of Peak Oil (ASPO) on Tuesday. Lastoilshock.com secured an exclusive preview.


Lord Ron Oxburgh

Read the full interview here.

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