Peak Oil to arrive sooner ?

(Source: Independent) Scientists challenge major review of global reserves and warn that supplies will start to run out in four years' time

Scientists have criticised a major review of the world's remaining oil reserves, warning that the end of oil is coming sooner than governments and oil companies are prepared to admit. BP's Statistical Review of World Energy, published yesterday, appears to show that the world still has enough "proven" reserves to provide 40 years of consumption at current rates. The assessment, based on officially reported figures, has once again pushed back the estimate of when the world will run dry.

However, scientists led by the London-based Oil Depletion Analysis Centre, say that global production of oil is set to peak in the next four years before entering a steepening decline which will have massive consequences for the world economy and the way that we live our lives. According to "peak oil" theory our consumption of oil will catch, then outstrip our discovery of new reserves and we will begin to deplete known reserves.

Colin Campbell, the head of the depletion centre, said: "It's quite a simple theory and one that any beer drinker understands. The glass starts full and ends empty and the faster you drink it the quicker it's gone." Dr Campbell, is a former chief geologist and vice-president at a string of oil majors including BP, Shell, Fina, Exxon and ChevronTexaco. He explains that the peak of regular oil - the cheap and easy to extract stuff - has already come and gone in 2005. Even when you factor in the more difficult to extract heavy oil, deep sea reserves, polar regions and liquid taken from gas, the peak will come as soon as 2011, he says.

This scenario is flatly denied by BP, whose chief economist Peter Davies has dismissed the arguments of "peak oil" theorists.

(UK): EasyJet unveils 'eco-jet'

(Source: Guardian) EasyJet has urged plane manufacturers to produce greener planes after unveiling the prototype for an aircraft that could slash carbon dioxide emissions by half. The low-budget carrier said its design, cobbled together from existing technology, would produce 50% less CO2 than its existing fleet and could be ready to fly by 2015. EasyJet said it was in discussions with Boeing and Airbus – the world's largest plane manufacturers.

The EasyJet 'ecoJet', crafted by two qualified aeronautical engineers employed by the airline, features "open rotor" engines that will produce 25% less carbon dioxide per passenger kilometre flown than the airline's current Airbus planes. It will cut fuel burn by a further 15% with wings and fuselage constructed from lighter aluminium composite material. A further 10% will be saved by slower inflight speed and, in a development not linked to the aircraft, changes to air traffic control across Europe.– and engine maker Rolls-Royce about producing a next generation of green aircraft.