Oil industry facing black future
UK
Source: The Guardian
From: UK

Believing that China and India’s industrialization would lead to increased oil demand and price, oil companies are investing billions of pounds to extract oil from tar sands. A report by Greenpeace claims that there will actually be a long-term decline in oil demand. Peter Hughes, Arthur D. Little’s directory for global energy, supports Greenpeace’s view and is quoted as saying "It is widely accepted that demand in OECD countries has plateaued and is going into decline but it has also been thought that would be massively outweighed by growth in China."