Cable Forum - View Single Post - Branson warns of oil crunch within five years.

injuneer · 09-02-2010, 09:21

There is still plenty of oil about but it is becoming increasingly difficult to extract it, in some cases it costs more to get it out than the price it will fetch, which is madness. Many geologists in the oil industry believe we have reached the peak. From now on demand will begin to outstrip supply especially with the likes of China & India needing more & more. China's level of car ownership is expected to exceed that of the USA by 2017.

09-02-2010, 09:21	#16
injuneer cf.geek Join Date: Feb 2004 Posts: 632	Re: Branson warns of oil crunch within five years. There is still plenty of oil about but it is becoming increasingly difficult to extract it, in some cases it costs more to get it out than the price it will fetch, which is madness. Many geologists in the oil industry believe we have reached the peak. From now on demand will begin to outstrip supply especially with the likes of China & India needing more & more. China's level of car ownership is expected to exceed that of the USA by 2017.