Lloyd's adds voice to dire 'peak oil' warnings
13 July 2010
Source: The Guardian
One of the City of London's most respected institutions has warned of "catastrophic consequences" for businesses that fail to prepare for a world of increasing oil scarcity and a lower carbon economy.
Workers drilling for oil on Lake Maracaibo, Venezuela.
The Lloyd's insurance market and the highly regarded Royal Institute of International Affairs say Britain needs to be ready for "peak oil" and disrupted energy supplies at a time of soaring fuel demand in China and India, constraints on production caused by the BP oil spill and political moves to cut CO2 to halt global warming.
The full article is availabe on the Guardian website.