JUSTTHENEWS (Kevin Killough) - Due to flawed ‘peak oil’ forecasts, underinvestment may lead to world supply problems, experts say
The controversial but influential forecasts of the International Energy Agency contributed to a major decline in investment in oil and gas exploration, as fears of "stranded assets" mounted. Now, as oil and gas appears likely to be the dominant energy source for decades to come, a report by the National Center for Energy Analytics warns the world could face future shortages.
AI:Flawed "peak oil" forecasts from the International Energy Agency have triggered a dangerous decline in global investment in oil and gas exploration as industry players fear stranded assets. This underinvestment, driven by inaccurate projections regarding the energy transition, now threatens to create severe world supply shortages because fossil fuels are expected to remain the dominant energy source for decades to come.Open