Genesis Morocco: HSBC Bombshell: Oil Will Run Out in 50 Years


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Genesis Morocco

Project Genesis is a strategic sustainable development framework for Morocco to translate from being a net importer of energy and a country facing water shortage issues, into the number one producer both of clean renewable energy and water in the region.

Sunday, October 16, 2011    <<Home

HSBC Bombshell: Oil Will Run Out in 50 Years



Personal Notes :  I was researching peak oil and I came across this, true it dates back to april, but its too big to pass upon. Yes I do believe in peak oil, don't you ? You should. HSBC's senior global economist Karen Ward thinks so. Its obvious stating that HSBC, the world's second largest bank has got some pretty deep pockets and access to cutting edge expertise for its white papers, but skeptics have a thick skin, so let us state the obvious. 


Also I kind of like Karen's attitude in life, she's 'too big to fail' or 'too senior to be bothered' and will not be scared away by the oil lobby, I like that. 


Article by Ben Jervey

The senior global economist at the world's second largest bank warned that the global oil supply might run out in under 50 years.
"Energy resources are scarce," wrote Karen Ward, HSBC's senior global economist in a research report that was obtained by CNBC. "Even if demand doesn’t increase, there could be as little as 49 years of oil left."
Speaking on CNBC, she raised her estimate by a year.  “We’re confident that there are around 50 years of oil left. There's possibly more out there, but the confident estimates are around 50 years."
Here's Ward on CNBC:

Sourced :  http://www.good.is