Thursday, October 14, 2010

Parliamentary Report Warns Of New Oil Shock Looming | Voxy.co.nz

Parliamentary Report Warns Of New Oil Shock Looming | Voxy.co.nz: "'World oil production capacity will not grow or fall for the next five years, while demand will continue to rise,' said Mr Smith.

'While the world will not run out of oil reserves for decades to come, it cannot indefinitely continue to produce oil at an increasing rate from the remaining reserves.

'There is a risk that the world economy may be at the start of a cycle of supply crunches leading to price spikes and recessions, followed by recoveries leading to supply crunches.'"

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