Do you know about Peak Oil?

I understand why people don’t listen to wild-eyed conspiracy theorists about the coming calamity of peak oil. Instead, they go to recognized experts like Daniel Yergin (author of The Prize: The Epic Quest for Oil, Money and Power), who tells them that everything is OK and the black gold will keep pumping for many decades to come.

But it ain’t necessarily so. And would you believe Lloyd’s of London? Lloyd’s has joined with the well-respected Royal Institute of International Affairs, also known as Chatham House, to say that Britain (and presumably the rest of the world) needs to be ready for peak oil and erratic energy supplies.

“Companies which are able to take advantage of this new energy reality will increase both their resilience and their competitiveness,” according to the report, Sustainable Energy Security: Strategic Risks and Opportunities for Business. The report, says Lloyd’s chief executive officer, Dr. Richard Ward, “should cause all risk managers to pause.” I guess so!

via Llyods of London Peak Oil – Running Out of Oil – The Daily Green.

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