Peak Oil’ Perplexities Test the Nerves of Major Oil Companies

‘Peak oil’ has well and truly grabbed the oil agenda if latest figures and pronouncements are anything to go by. Whether major oil companies, state or private, like it or not, peak oil cannot be ignored. The subject, ridiculed just three years ago, now sits centre stage.

When Lord Browne, head of BP [NYSE:BP; LSE:BP], spoke to a dinner at the Energy Institute in London, he was forced to confront the theory head on

“We’re at a point of great change in this industry,” said Lord Browne. “Demand is growing, but we have to meet that demand in different ways from different sources.

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