Experts Hear Oil Depletion Fear ( Reserves Running Out Much Faster)

[chlamor]

Last Updated: Monday, 25 April, 2005, 13:56 GMT 14:56 UK

Experts hear oil depletion fear

The world's oil reserves are running out much faster than industry and governments are admitting, a conference in Edinburgh has been told.

Experts refer to "peak oil", the time when oil extraction reaches its highest point and then starts to decline.

Many industry experts believe it will not occur until 2030 - but some analysts have stated publicly that it could happen by 2008 or even sooner.

About 200 people from various sectors attended the event.

Dr Jeremy Leggett, a member of the UK government's Renewables Advisory Board, predicted: "Most of us who are worried about this issue would say definitely it will happen some time this decade.

"2008 might be the best guess, plus or minus two years. It's certainly a lot earlier than almost all the world is assuming at the moment.

http://news.bbc.co.uk/2/hi/uk_news/scotland/4481841.stm