Doomsayers Predict New World Oil Crunch

Lynch laughingly recalls past flubbed forecasts of an oil apocalypse. One of the leading doomsayers at present is Colin Campbell of Petroconsultants in Geneva, who, Lynch says, “predicted in a 1989 article . . . that world oil production had peaked . . . and that the price would go to $40 to $50 a barrel in the early 1990s.

“And now its about $12 to $13.”

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