Charles Maxwell, a former energy executive who is now an analyst at Weeden & Co., says "peak oil" will drive oil prices to US$300 a barrel over the next decade.
Maxwell says that alternative energy is still far too small a portion of our energy consumption to make a difference. Conservation will be the only way to manage dwindling supplies.
Olivier Ludwig interviews Maxwell for the Financial Post:
"MAXWELL: Globally, I believe we're quite close to the peak, simply because we've gone from 6% increases in production to 3% per year increases, to half a percent per year increases. I think peak will come between 2015 and 2017. So, we're nearly on it."
Thanks to Steven Godfrey
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