UK: Global Oil will Run out and an Energy Crisis will Erupt in the next Five Years

According to the British "Guardian" news, business leaders such as Branson, founder of the famous British private enterprise Virgin Group, recently stated that the world will run out of oil and an energy crisis will break out in the next five years, which will be more serious than the credit crunch crisis.

Branson said: "We will face another crunch in the next five years - the oil crunch. This time we have the opportunity to prepare. The current challenge is to seize the time." British companies joining Branson include Scottish Southern Energy Group, Transport operator Stagecoach is among those who will publish a report on the oil crisis and make submissions to British officials this week.

A consultant involved in the oil crisis report pointed out that the economic recession has slightly delayed the outbreak of the oil crisis, but it is expected that as early as 2012 to 2013, or no later than 2014 to 2015, oil prices will rise sharply, damaging economic growth and causing economic Into chaos.

Although many oil giants such as BP and Exxon Mobil insist that there is no need to worry about the oil crisis, at the recent World Economic Forum in Davos, Desmaret, CEO of the French oil company Total, pointed out that "peak oil "(Peak oil) The problem does exist. In the future, global oil production can only barely increase by 10%, reaching more than 95 million barrels per day. The "Peak Oil" theory holds that after global crude oil production reaches its peak, production capacity will gradually decline.

Earlier, insiders pointed out that the International Energy Agency (IEA) deliberately kept a low profile in response to the "peak oil" theory in order to avoid causing panic in the stock market. It is reported that the IEA predicted in 2005 that oil production would reach 120 million barrels per day by 2030, and then gradually reduce to 116 million barrels, and last year it was lowered to 105 million barrels. In November last year, the Guardian quoted news saying that the IEA provided inaccurate data on the energy crisis. However, governments such as the United States and the United Kingdom largely based their response policies on this data.