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Oil Scarcity News

17 May 2004

Oil Prices: Heading Up?

“Due to increasing demand and reducing reserves, oil prices currently at $40 are likely to soon enter a period of sustained rises resulting in a need to massively develop natural gas and renewable energy resources” according to John Westwood of energy analysts Douglas-Westwood. “Oil reserves are depleting and demand growing. Recent increases in oil demand from China, for example, are likely to accelerate. The average American consumes 25 times as much oil as the average Chinese yet China has 5 times the population and is industrialising rapidly. Vehicle growth in China is rising rapidly and this will cause global demand for oil to continue its increase.

08 Jun 2004

Will Oil Continue Heading Up?

"Due to increasing demand and reducing reserves, oil prices currently at $40 are likely to soon enter a period of sustained rises resulting in a need to massively develop natural gas and renewable energy resources" according to John Westwood of energy analysts Douglas-Westwood. "Oil reserves are depleting and demand growing. Recent increases in oil demand from China, for example, are likely to accelerate. The average American consumes 25 times as much oil as the average Chinese yet China has five times the population and is industrializing rapidly. Vehicle growth in China is rising rapidly and this will cause global demand for oil to continue its increase.

02 Aug 2002

Major Oil Price Rise Forecast

The world is drawing down its oil reserves at an unprecedented rate and even assuming no growth in demand it is likely that that by 2010 oil supply will be constrained by global production capacity and oil will permanently cease to be abundant. Supply and demand will be forced to balance - but at a price. Then, like during the oil shocks of the 1970’s, prices could double and treble within two or three years as the world changes from oil abundance to oil scarcity. The world is facing a future of major oil price increases which will occur sooner than many people believe. These are amongst the conclusions of The World Oil Supply Report, an important new study published today by energy analysts Douglas-Westwood.

03 Oct 2002

Oil Price Rises to Impact Transport Sector

The long-term growth in the transport sector will shortly become unsustainable due to oil price increases forecast to occur in the next few years. These are amongst the conclusions of an important report by energy analysts Douglas-Westwood. Oil price rises due to concerns over a possible war in the Middle East are, according to the report authors, nothing compared to what is ultimately in prospect. The World Oil Supply Report states that global oil reserves are being drawn down at an unprecedented rate and even assuming no growth in demand it is likely that that by 2010 oil supply will begin to be constrained by global production capacity and oil will permanently cease to be abundant. Supply and demand will be forced to balance – but at a price.