On top of concerns about high oil prices now comes the fear that we have reached “peak oil” and that global oil output will start to decline. Have we? If oil has peaked, do we face a future of growing energy shortages, rising prices and international conflict for supplies?

No one should underestimate the energy challenge. With continued economic growth, the world’s energy needs could increase by half within 25 years. Unchecked, this will result in significantly higher carbon emissions. Many scientists agree that emissions from human activities are changing our climate and call for urgent action. The world’s energy needs must be met while cutting carbon dioxide emissions.