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Diesel fuel cards news: Sir Richard Branson warns of 'oil crunch'

08 February, 10
Diesel fuel card customers have been issued with a stark warning by Sir Richard Branson which could see pump prices head even higher than their current level.

In a new report which is set to be released later this week, the founder of the Virgin group has warned that supplies of the hydrocarbon are running low and a global oil crunch could hit in five years' time.

"The next five years will see us face another crunch - the oil crunch," Mr Branson wrote in the forthcoming publication.

"Our message to government and businesses is clear - act," he added. "Don't let the oil crunch catch us out in the way that the credit crunch did."

However, his claims have been refuted recently by the chief executive officer of BP Tony Hayward.

In an interview with BBC Radio 4, Mr Hayward told diesel fuel card customers not to worry about global oil supplies and predicted that demand for the commodity will not peak until after 2020.

Posted by Tammy BrooksADNFCR-2675-ID-19603359-ADNFCR
Diesel fuel cards news: Sir Richard Branson warns of 'oil crunch'



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