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Peak Oil - just around the corner - Part 2

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Uploaded on May 5, 2011

From the ABC radio Science Show. Oil supplies are rapidly dwindling and demand is increasing leading analysts to warn of an impending oil crunch. The global oil supply has lost the equivalent of the volume of the North Sea oil reserve in 15 months. By 2014, supply is expected to fall short of demand. Other factors could bring that forward. Fatih Birol says the age of cheap oil is over and we all need to prepare ourselves for higher oil prices. Further he says no government is prepared for what lies ahead. Jeremy Leggett describes the oil crunch, when global supply fails to meet demand.

See Part 1: http://www.youtube.com/watch?v=m6Q8rF...

From the ABC radio Science Show, hosted by Robyn Williams: http://www.abc.net.au/rn/scienceshow/...

See the Catalyst Peak Oil TV segment at: http://www.youtube.com/watch?v=RaNz3q...

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