Why Carbon Fuels Will Dominate the 21st Century Energy Economy »

Peter Odell is a professor emeritus of energy economics at Erasmus University, Rotterdam, and a visiting professor at the London School of Economics. He is also the 2006 winner of the OPEC Award. The Organisation of Petroleum Exporting Countries makes the award, every two years, to honor distinguished individuals who have made an outstanding contribution to knowledge of the petroleum industry and oil-related issues. The presentation was made to Professor Odell during OPEC's International Seminar in September 2006.

This text provides a survey of the energy resources for the foreseeable future and argues that there is not, nor has there been, a supply crisis. It contends that the current claims of impending disaster are as falsely based as those first made in the 1960s, albeit for different reasons. This book argues that most attempts at reasonable analysis are undermined by the poor quality and confusing nature of much of the statistical data available, much of the confusion deliberately sowed by governments and oil companies to create impressions that best served them at different times. Data is interpreted in a coherent way, concluding that the predicted supply crisis is not going to be a near-term phenomenon.