Press room

BP Plc Chief Executive Officer Tony Hayward is putting money on the line to dispute the theory of peak oil, according to his counterparty in the wager Kjell Aleklett, a professor at Sweden's Uppsala University.

Hayward bet Aleklett the price of one barrel of oil in 2018 that global crude production will be greater than the current daily output of 85.5 million barrels, the professor said during his speech at the Asia Oil and Gas Conference in Kuala Lumpur. Total supply was 86.8 million barrels a day, including natural gas liquids such as propane.

I am upset that the bet is so low, only the price of one barrel of oil, Aleklett said to laughter from the audience at the oil conference in Kuala Lumpur.

Read more: Bloomberg News

The next ASPO conference will take place in Barcelona in Spain during 20-21 October 2008.
The traditional topics, such as oil and gas (and coal), will be discussed by various speakers. Apart from that also energy security and other proposed subjects, such as renewables in general and biofuels in particular together with local and regional solutions, will be presented.

A more detailed schedule and list of speakers will appear later. For more information check out the official conference homepage at http://aspo-spain.org/aspo7 (coming soon). This page will also include registration procedures and subscription fees and conditions.

Additional information and a summary of what peak oil is about and the earlier conferences can be found in the attached dossier.

If you are interested in contributing with a paper we will keep the reception of proposed papers for the conferences from the ASPO members until August 31st 2008.

Interested members can mail their proposed documents for coordinated pre-selection to: Pedro A. Prieto at pedro@crisisenergetica.org and to Mikael Höök at Mikael.Hook@fysast.uu.se

	Attachment	Size
	DossierASPO8.pdf	3.14 MB

Press release from ASPO, The Association for the Study of Peak Oil&Gas, www.peakoil.net

2008-03-05

ASPO and Peak oil theorists challenge Saudi Arabia

Kjell Aleklett, President of ASPO, www.peakoil.net, +46-70-425 0604

In Paris, March 2, 2008, Ali al-Naimi, oil minister for the world's largest crude producer, Saudi Arabia, and one of the oil industry's most influential figures, has been discussing Peak Oil. He has stated that Saudi Arabia, which already has the world's biggest proven oil reserves, plans to add another 200 billion barrels of oil to its proven reserves. He said this was "to reassure the world that we are not going to run out of oil in the next five to ten years as peak oil theorists say." Full story at AFP