Oil-mageddon

Thierry Desmarest, chairman of Total, the world’s fourth-largest oil company, says global production will peak “in around 2020″.

Sir David King, the British Government’s chief scientific adviser, says that the peak will come “in ten years or less”.

So, the scenario goes, at some time in the 2020s or possibly sooner, oil production will begin an irreversible decline and oil will become a deadly, zero-sum game. What then?

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