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Page added on November 28, 2009

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In Theory: Biofuel no competition for oil

Oil reserves will be sufficient for the next 100 years, while natural gas is expected to last longer

When security situations in the Gulf region become tense, the Strait of Hormuz gains the world’s attention because it is the most important sea passage for oil supply.

During the 15th annual Energy Conference held at the Emirates Center for Strategic Studies and Research (ECSSR) recently, many points of view were discussed about the future of energy security in the Gulf region, which has become a global issue viewed by influential countries as a strategic issue.

During the first session, the representative of the Global Energy Council gave a presentation on oil reserves saying that they will be sufficient for the next 100 years, while natural gas is expected to last longer.

The study also said that oil will maintain its share in the global energy balance until 2040. This information contradicts all published data by global oil companies which are fully aware of oil and gas reserves in the world.

Gulf News



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