Fatih Birol Offers the World an Oil Health Check, and the prognosis isn

Every year the IEA publish their

What follows is an interview he gave recently in International Politik, the Journal of the German Council on foreign Relations. If ever there was an example of a man with bad news to break breaking it in the most straightforward way possible and not mincing his words, this is it. Essential reading.

Schneider: So what is your conclusion?

Birol: I would be very surprised if the oil productions would effortlessly increase during the next 20 to 25 years to meet, lets say, 120 mb a day without any problems. Even if the potential should be there, we will not get this oil to the markets. The conclusion is that we have to be prepared to see very turbulent, tight and high prices oil markets – this will not be good for the economy.

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