Word: worldlys
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...official questioned the prediction in last year's World Energy Outlook that oil production could be raised from the current level of 83 million bbl. a day to 106 million bbl. a day, saying the estimate was higher than is feasible. This year's report lowers that prediction to 105 million bbl. a day. But critics of the IEA have long said the world has passed its peak in oil production and that such levels are unrealistic. (See how to plan for retirement...
...chief economist for the IEA, Fatih Birol, disputed the Guardian's report. "I don't see any particular encouragement from the U.S. or any other of our governments," he told TIME on Tuesday. He said the accusations about the IEA's downplaying of the world's tightening oil supplies surprised him, since "we have said that oil production is declining in existing fields sharply," he said...
...which operates under the auspices of the Organization of Economic Cooperation and Development, crunches numbers on energy supplies and demand on behalf of the world's richest countries, including the U.S., the European Union and Japan, which also finance the agency. Birol said the organization's annual report is discussed with all member governments and reviewed by 200 energy experts before being released. (Read "The Real Impact of America's Oil Crisis...
...dire predictions about the world's depleting fossil fuels are in fact known to those closest to the oil wells: oil executives. Yves-Louis Darricarrère, global chief of exploration and production for the French energy giant Total, told TIME last week that the world has "oil reserves of about 40 years at current demands." "It is not so easy to supply the world," Darricarrère said in an interview in south Yemen, where the company just opened a liquefied natural-gas plant. "We will reach a plateau and start to decline." He said that expanding access...
...report doesn't sugarcoat the future when it comes to climate change, saying the world faces a looming disaster if its leaders drag their feet in Copenhagen. Among the predictions likely to alarm the big energy consumers...