{"article":{"id":112191,"heading":"Is the world's oil running out fast?","author":"Eric Einem","created":"2004-06-10 15:05:23","modified":"2013-11-11 00:30:07","last_modified":"Mon, 11 Nov 2013 07:30:07","article":"<div>Is the world's oil running out fast? <\/div>By Adam Porter <br>at the Peak Oil conference in \r\nBerlin <br>\r\n<div>\r\n<p><b>If you think oil prices are high at $40 a barrel then wait till they are \r\nfour times that much. <\/b>\r\n<\/p><p>How will you pay to run your car? How will you get the children to school? \r\nHow will you heat your house? How much will transported food go up in price? \r\n<\/p><p>How will we pay for plastics, metals, rubber, cheap flights, Simpson's DVDs, \r\n3G phones and everlasting economic growth? \r\n<\/p><p>The basic answer is, we won't. \r\n<\/p><p>This is the message from the Association for the Study of Peak Oil (ASPO). \r\n<\/p><p>The group of oil executives, geologists, investment bankers, academics and \r\nothers has been warning the world of high oil prices, and the ensuing fallout, \r\nfor some years now. \r\n<\/p><p><b>The end of cheap oil <\/b>\r\n<\/p><p>It includes a diverse range of oil industry insiders. \r\n<\/p><p>People like Ali Bakhtiari, head of strategic planning at Iran's National Oil \r\nCompany (NOIC), Dr Colin Campbell, a former executive vice president of \r\nTotal-Fina, and Matthew Simmons, an energy investment banker and adviser to the \r\ncontroversial Bush-Cheney energy plan. \r\n<\/p><p>They are united by one idea, that global oil production is about to peak, \r\nwhich in turn will signal the permanent end of cheap oil. \r\n<\/p><p>And they warn that this is the foundation of the current rise in oil prices.<br>\r\n[snip]\r\n\r\n<\/p><\/div>\r\n<div>Read the entire story from the BBC \r\nNEWS:<br>http:\/\/news.bbc.co.uk\/go\/pr\/fr\/-\/1\/hi\/business\/3777413.stm<br><br>Published: \r\n2004\/06\/07 07:41:05 GMT<br><br>&copy; BBC MMIV<\/div><br><br>\r\nFor information on peak oil related events, visit http:\/\/www.peakoilaction.org\n","contact":"eric@peakoilaction.org","link":"http:\/\/www.peakoilaction.org","address":"","phone":"","parent_id":0,"mime_type":"text\/html","summary":"This article from the BBC covers the recent Association for the Study of Peak Oil (ASPO) meeting in Berlin.  The message from this meeting is that the end of cheap oil is here.  It includes many experts from the oil industry.","numcomment":0,"fileurl":"\/uploads\/","filesize":null,"article_url":"\/news\/2004\/06\/112191.php"},"attachments":[],"comments":[]}