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Page added on June 29, 2008

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Former President Bush energy adviser says oil is running out

The era of globalisation is over and rocketing energy prices mean the world is poised for the re-emergence of regional economies based on locally produced goods and services, according to a former energy adviser to President Bush and the pioneer of the

His controversial views, rejected by many mainstream experts, suggest that some of the world’s biggest oilfields, particularly in Kuwait and those of Saudi Arabia, the world’s leading producer, are in decline.

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