Fuel card news: Lloyds warns of peak oil 'catastrophe'
|
12 July, 10 Investment bank Lloyds of London has issued dire predictions of the effect peak oil could have on prices and businesses across the globe. In its new Sustainable Energy Security white paper, the financial institution claimed that rapid growth in Asian oil demand will lead to a "price crunch" even before production of the commodity reaches its height. Lloyds also directed fierce criticism at the International Energy Agency (IEA) and suggested that the recent economic slump could have brought an indefinite end to as many as 20 new offshore drilling programmes. "A look at the forecasts and actual outcomes for both Opec crude capacity and non-Opec production show that country targets and IEA expectations over the past decade have generally gone unmet," the report stated. Earlier this year, researchers led by former British government scientist Sir David King asserted that current worldwide oil reserves may have been overestimated by as much as one-third and warned Western powers have so far failed to tackle the issue. Find out more about the Shell fuel card and start saving now. Posted by James Richmond  |
|
|
Shell fuel card news Fuel card news: Nissan witnesses January sales increase - 07/02/12 Fuel card news: IAM calls for Brits to belt up - 06/02/12 Fuel card news: Transporter T5 named Used Van of the Year - 31/01/12 Fuel card news: Policing cuts 'put public at risk' - 30/01/12 Fuel card news: workshops put on by TfL for freight firms - 27/01/12 |
|
© 2012 - The Fuelcard People | Privacy | Web Terms & Conditions | Trade Terms & Conditions | Sitemap
Registered Particulars
Registered Particulars