Tuesday, February 16, 2010

Peak oil theory is back ......

We have been been hearing about peak oil -- but this time we have an interesting twist. Peak demand. That is because the world is diversifying away from oil and relying on renewable energy especially from developed nations. This can happen as soon as in the next 10 years. I've mentioned before about 70% of the demand is coming from transportation, let's see how things have really changed. If not, they are just responding to one of the what if scenarios.

(theStar)JEDDAH, Saudi Arabia: A top Saudi energy official expressed serious concern Monday that world oil demand could peak in the next decade and said his country was preparing for that eventuality by diversifying its economic base.

Read more: http://biz.thestar.com.my/news/story.asp?file=/2010/2/16/business/20100216082553&sec=business

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