Shortfall could reach 10m barrels a day, report says Cost of crude oil is predicted to top $100 a barrel
Terry Macalisterguardian.co.uk, Sunday 11 April 2010 18.47 BST
The US military has warned that surplus oil production capacity could disappear within two years and there could be serious shortages by
2015 with a significant economic and political impact.
The energy crisis outlined in a Joint Operating Environment report from the US Joint Forces Command, comes as the price of petrol in Britain reaches record levels and the cost of crude is predicted to soon top $100 a barrel.
"By 2012, surplus oil production capacity could entirely disappear, and as early as 2015, the shortfall in output could reach nearly 10 million barrels per day," says the report, which has a foreword by a senior commander, General James N Mattis.
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