November 19, 2017

The age of cheap oil is over (2011)

The IEA’s chief economist, Dr Fatih Birol, describes how the IEA now believe that conventional (crude) oil production peaked in 2006 and how the age of increasing oil prices is now upon us.

A transcript of the original program aired on Australia’s ABC can be found here.

Further, the IEA also claims the world has just 5 more years to prevent itself from becoming locked-in to a high-carbon energy infrastructure that will necessitate dangerous and irreversible climate change.

The race is on . . .

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