You’re running out of oil – Bush

PRESIDENT George Bush yesterday told leaders of the oil-rich states of the Middle East that they must face up to a future without their precious hydrocarbons.

In a stark warning, he said their supplies were running out and urged them to reform and diversify their economies. The outgoing United States president told the World Economic Forum, meeting in the Egyptian resort of Sharm el-Sheikh, that it was time to “prepare for the economic changes ahead”.


Mr Bush’s family name is inextricably linked to the oil industry, and this was his strongest statement yet on the future of global supplies.

He told the conference: “The rising price of oil has brought great wealth to some in this region, but the supply of oil is limited, and nations like mine are aggressively developing alternatives to oil.

“Over time, as the world becomes less dependent on oil, nations in the Middle East will have to build more diverse and more dynamic economies.”

Scotsman