More fallout from the Guardian's IEA story.

[GliderGuider]

Energy security body calls for 'urgent' review of impact of oil shortages



An industry organisation that includes Virgin and Yahoo has called on the government to "urgently" reassess its dismissive view about the potential threat and impact of oil shortages.

The call from the UK Industry Taskforce on Peak Oil and Energy Security comes after revelations in the Guardian that there is dissent inside the International Energy Agency (IEA) about how soon the world may run out of supplies.

It also comes alongside a petition to Number 10 which calls on Gordon Brown to take up the issue more seriously amid a growing number of reports that indicate the situation is more urgent than many believed.

Will Whitehorn, the taskforce chairman, who is also president of Virgin Galactic, Sir Richard Branson's space travel business, said: "Given the revelations from within the IEA, we hope the government will be urgently reviewing the complacent approach to peak-oil risk evident in the Wicks Review."

Other members of the taskforce include Scottish and Southern Energy, Stagecoach, the transport group, and Arup, the civil engineering consultancy. Work already undertaken by the taskforce has suggests that more needs to be done to prepare for the potential economic dislocation from a sudden huge rise in crude prices.

Check out the size of the two wedges in the above graph labelled "Fields yet to be found" and "Fields yet to be developed."

[Bigmack]

1. Alas, why does it feel like

even if one were to rub the noses of those "in power" - those barons of political and economic power - anyhow, rub those folks noses in declining crude, they would STILL not acknowledge this looming reality?????? Ms Bigmack

[Javaman]

2. We never plan long term and we never seem learn from our mistakes.

Once we understand the capitalism is not the solution to everything, then people will fix things, until then, "they" will always seek a profit as the solution to fix something.

Somethings just need to be fixed for the sake of fixing.