Peak oil – a new forecast

New York, US: Operators looking at their vehicle fleet with diesel-powered trailer fridges will find comfort in an article, There Will Be Oil in the Wall Street Journal.

For decades, advocates of ‘peak oil’ have been predicting a crisis in energy supplies.  They’ve been wrong at every turn, says Daniel Yergin writing in the newspaper.

He suggests that oil production, rather than peaking, has reached a plateau and it will be mid-century before it declines and then only gradually.  “And that decline may well come not from a scarcity of resources but from greater efficiency, which will slacken global demand,” he says.