IEA Chief Economist Says Peak Oil Will Come in 11 Years
According to The Guardian, Fatih Birol, Chief Economist with the International Energy Agency (IEA), has candidly revealed his position that world oil demand will start outpacing supply “around 2020.”
Peak Oil — that most controversial and elusive of concepts. Everybody seems to have their own opinion. There are experts on both sides who alternately claim we have at least 30 years before we reach it and those who claim we’ve already reached it.
So, for a top-level official in an agency with the respect of the IEA to state that we’ll reach an oil supply plateau around 2020 is pretty substantial news — especially considering that his own agency has previously stated that the date was 2030.
