Global oil capacity will
grow over the next 20 years but after that supply may not meet demand,
according to a study released Tuesday by IHS Cambridge Energy Research
Associates.
Capacity could grow as much as 115 million barrels a day, or 25% over current
levels, according to study of more than 100,000 projects worldwide.
"Post-2030 could struggle to meet but this would take the form of a
decades-long "undulating plateau," rather than a sharp fall,"
the report said.
The peak oil theory, the idea that the world will run out of oil, is a
controversial one.
The Guardian newspaper in the U.K.
reported last week that a whistleblower has accused the International Energy
Agency of underplaying the prospect of an oil shortage.
The unnamed official claimed the agency was bowing to pressure from the U.S.
to downplay the depletion of oil reserves to avoid triggering panic buying, the
Guardian reported.