Peak oil peaking faster than expected

One of the world’s top petroleum economists says oil supplies world-wide are dwindling faster than anticipated.

“One day we will run out of oil, it is not today or tomorrow, but one day we will run out of oil and we have to leave oil before oil leaves us, and we have to prepare ourselves for that day,” Dr Fatih Birol said.

“The earlier we start, the better, because all of our economic and social system is based on oil, so to change from that will take a lot of time and a lot of money and we should take this issue very seriously,” he said.

Birol is chief economist with the International Energy Agency, hq’d in Paris. Read the full article here.