What will a world in energy crisis look like?
Jeremy Leggett: We’re all living in a world that is geared to its rivets of growing supplies of generally affordable oil and every sector is geared to that assumption. Growing number of people with reason to know are telling us were about to transition into something totally different where we have rapidly shrinking supplies of increasingly unaffordable oil, you can extrapolate from that what would happen. I really hope it’s not correct, and when I talk at oil industry events, I’m told it’s not correct, but more voices are coming from within the oil industry – the former head of exploration and production at Ramco Energy, said in his view we’re already at that peak. We’ve had flat production for the past three years and we’re not going to get about 85 million barrels a day. God forbid that is right, because that would give us a real problem. In more own analysis of this, I tent to follow the petroleum review where one of the flagship oil industry journals set out to prove it wasn’t tru
