Happening Now – The End of Oil is closer than we think

The following article was originally published in The Guardian, Thursday 21 April 2005 21.23 AEST by 2008 the Global Financial Crisis was upon us… nogas

The one thing that international bankers don’t want to hear is that the second Great Depression may be round the corner. But last week, a group of ultra-conservative Swiss financiers asked a retired English petroleum geologist living in Ireland to tell them about the beginning of the end of the oil age. They called Colin Campbell, who helped to found the London-based Oil Depletion Analysis Centre because he is an industry man through and through, has no financial agenda and has spent most of a lifetime on the front line of oil exploration on three continents. He was chief geologist for Amoco, a vice-president of Fina, and has worked for BP, Texaco, Shell, ChevronTexaco and Exxon in a dozen different countries.

“Don’t worry about oil running out; it won’t for very many years,” the Oxford PhD told the bankers in a message that he will repeat to businessmen, academics and investment analysts at a conference in Edinburgh next week. “The issue is the long downward slope that opens on the other side of peak production.

Oil and gas dominate our lives, and their decline will change the world in radical and unpredictable ways,” he says…

[Full article can be found here][External Link]

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