The former chairman of Shell will issue a stark warning about the world's oil supply at a conference in Ireland later this week. Lord Oxburgh expects that global oil demand will outstrip supply within twenty years as production hits plateau, and that the oil price may well hit $150 in the long term. He accuses some in the industry of having their heads "almost in the sand" about oil depletion, and concludes "we may be sleepwalking into a problem which is actually going to be very serious and it may be too late to do anything about it by the time we are fully aware". (more…)...

In a widely viewed You Tube clip, taken from a C-Span interview conducted in 1994, Dick Cheney argues persuasively that the United States was right not to topple Saddam Hussein during the first Gulf War. He cites the potential disintegration of the country and the risk of American casualties as good reasons for the decision not to take Baghdad. So what was it that changed his mind by the turn of the century? An acute awareness of impending peak oil. (more…)...

A year ago Tony Blair declared in the Energy Review that securing a ‘sustainable, secure and affordable energy supply is one of the principal duties of government’. He was right. But under New Labour energy policy has veered from criminal to farcical. And with the recent reappointment of Malcolm Wicks as Energy Minister that farce is ready to transfer from Whitehall to the West End stage. (more…)...

Big beasts of the oil jungle don’t come much bigger than Rex Tillerson, in London last week to give a speech at Chatham House. Usually at such events the bigger the beast the duller the platitudes, but during questions afterwards the CEO of ExxonMobil made some significant remarks that underscored the tightness of oil supply outlook, and effectively predicted the end of non-OPEC oil production growth by 2010. (more…)...