UBS: Gas Expected to Eclipse Oil Production by 2030

Oil production may peak around 2030, but the ensuing decline will be offset as high fuel costs accelerate the growth of other energy sources, most notably natural gas, UBS reported in a study released on Wednesday.
As oil production slows, gas production and other fuel substitutes likely will grow in importance to meet an expected increase in overall energy use, according to “Commodities: Scarcity of Abundance,” by the Swiss-based investment firm’s Wealth Management Research arm. Exactly when

oil will peak is “very difficult to estimate,” but “the fact that consumption is outstripping new discoveries by more than 400% suggests that further increases in global reserves may be nearing an end.”

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