[Peakoil] Understanding the new global oil economy

[Antony Broughton Barry]

http://www.ft.com/intl/cms/s/0/368e73a6-9775-11e5-95c7-d47aa298f769.html#axzz3t81IPscB

Quote:
The problem is not that the world is running out of oil. It is that it has far more than it can burn while having any hope of limiting the increase in global mean temperatures over the pre-industrial levels to 2°C. Burning existing reserves of oil and gas would exceed the global carbon budget threefold. Thus, the economics of fossil fuels and of managing climate change are in direct opposition. One must give. Profound technological change might undermine the economics of fossil fuels. If not, politicians will have to do so.