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IEA report says era of cheap oil over

Posted on 13 November 2008

From Energymatters.com.au: The World Energy Outlook 2008 report released today by the International Energy Agency has painted a bleak picture for the future of oil and is calling for a global low carbon and renewable energy revolution in spite of the current financial crisis.

While the IEA still believes that oil will be available in for the foreseeable future, the sources of oil and costs of producing it mean that ” the era of cheap oil is over” according to Nobuo Tanaka, Executive Director of the International Energy Agency……. Full Article: Source


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