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Talk on Peak Oil – April 6th 7.30 pm

Slides from Dr Salomeh’s talk can be viewed here

Come to the Georgian Hotel at 7.30 pm  (for an 08.00 pm start) on Wednesday April 6th and hear about Peak Oil from Dr Mamdouh Salameh, one of the world’s foremost experts. Tickets are just £2.00 each (£1.00 concessions).

A peak in global oil production has been reached in 2006. Peak oil is not only a reality but is already impacting on oil prices, the world economy and the global energy security. It is against this background that the concept of peak oil becomes more worrisome.

An analysis of the global market fundamentals indicates that a severe oil crunch could be in the offing probably by 2015 or thereabouts.

By 2012, global oil spare production capacity could entirely disappear and by 2015 the shortfall in oil output could reach nearly 10 million barrels a day (mbd) causing a severe oil crunch and pushing the oil price to levels not reached before.

Such a crunch could, at least, lead to periods of harsh economic adjustments in the global economy and, at worst, to conflict and even war should one of the major oil consuming nations choose to intervene forcefully. The war on Iraq was a foretaste of what’s to come.

Dr Mamdouh G Salameh is an international oil economist, a consultant for the World Bank in Washington DC on oil and energy and also a technical expert with the United Nations Industrial Development Organization (UNIDO) in Vienna. He has a doctorate in Economics specializing in the economics & geopolitics of oil & energy.

Dr Salameh is currently Director of the Oil Market Consultancy Service in the UK. Dr Salameh has written three books on oil and has presented papers to numerous international energy conferences on the economics & geopolitics of oil & energy and has also been frequently invited to lecture on these topics at universities around the world.

He regularly appears on TV to discuss oil prices and other developments in the global oil market. He is a member of many international institutes and associations around the world including the International Associatiobn for Energy Economics in the US, the British Institute for Energy Economics & the International Energy Foundation in Canada.

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