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Two Energy Futures: Cake or Death?
International demand for oil and gas will outstrip supply within seven years, according to Royal Dutch Shell chief executive Jeroen van der Veer. That means we can either scramble for what's left, or plan a more orderly switch-over to low-carbon fuels and renewable energies. Sounds a bit like a choice between cake or death. Er, cake please... Click 'read more' for more info and to access the Shell scenarios paper. But if you watch this Eddie Izzard video you'll probably get the idea.

Mr van der Veer launched two energy scenarios ahead of the World Economic Forum in Davos, Switzerland, which plot what will happen after 2015 when "easily accessible supplies of oil and gas probably will no longer keep up with demand.” The two scenarios, titled 'Scramble' and 'Blueprints', represent the oil industry's latest attempt to deal with diminishing oil reserves: admit it's actually a real problem. As reported by the ABC's Mark Colvin, the announcement means the concept of peak oil has suddenly gained new respectability. 

In the week of the announcment, Shell also delayed publication of key data about its oil reserves, sparking concern the reserves numbers could be poor. You can read the Shell scenarios paper 'Two Energy Futures' here.

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"Government's view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it." -- Ronald Reagan (1986)