What is Peak oil?
"The term Peak Oil refers to the maximum rate of the production of oil in any area under consideration, recognising that it is a finite natural resource, subject to depletion."
--Colin Campbell
Up to 50,000 jobs could be at risk in the UK oil & gas sector
Submitted by Mikael Höök on Tue, 2009-06-30 10:51.
The cross-party committee, set up earlier this year to scrutinise the work of the new Department of Energy & Climate Change, has been hearing evidence on the country’s energy sector over recent months.
“The oil and gas industry operating on the UK continental shelf currently faces a quadruple whammy of high costs, low prices, lack of affordable credit and a global recession,” said the report by the Energy & Climate Change Select Committee published today. Up to 50,000 jobs could be at risk in the UK oil & gas sector next year if ministers do not set out a more “articulate” strategy on how to maintain production levels,
Read more: UK Parliament or Upstream Online
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