EU admits having no plan for ‘peak oil’ crisis

Commission shrugs off looming oil shortage as ‘just a theory’

The EU’s energy commissioner Andris Piebalgs has admitted he has no plan to deal with rapidly rising oil and gas prices in the face of shrinking supply and booming demand.

In a response to a parliamentary question put by Green Party MEP Caroline Lucas, he shrugs off the so-called ‘Peak Oil’ scenario as ‘no more than a theory’.

Dr Lucas, an MEP for South-East England and a member of the European Parliament’s Environment and International Trade Committees, said: “The Commission’s attitude represents a frightening dereliction of duty.

“An increasing number of scientists and energy experts are warning that declining oil production, public over-statements of oil reserves and booming demand for oil and gas in China and India mean that the point of ‘Peak Oil’ – when growing demand for oil outstrips falling supply – will occur sooner than is openly suggested.

Green Party