Oil

An executive summary of weekly news from a peak oil perspective.

British scientists recently released a report warning that world oil supplies could run out faster than expected. The scientists seem to have been commissioned by the White House to come up with a forecast that justifies U.S. aggressive policies toward oil-exporting countries. However, Russians have no reasons to panic even if the prediction proves correct since Russia is going to rid itself of the dependence on oil by reforming [its] economy.

Energy will be one of the two or three defining issues we’ll face over the next decade. Since post-1999, we’ve essentially been in a crisis mode.