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Oil for the next 50 years, says UKPIA

01 July, 2004
Page 5 

While oil is not running out, the environmental agenda will drive change

Oil is not running out and – driven by the growth in demand for transportation fuels – will remain the major component of the world energy mix for the next 50 years, according to a new report by the UK Petroleum Industry Association, entitled ‘Future Road Fuels’.
Launching the report, which examines the options for low carbon road fuels and technology in the 21st century, Ken Rivers, UKPIA’s president said: “The UK oil industry recognises the need to reduce CO2 emissions from road transport – indeed cleaner fuels have the potential to help moreefficient conventionally fuelled vehicles meet all the CO2 reductions expected from UK road transport by 2020.” He said examples were advanced clean diesel engines, some new efficient petrol engines and various forms of hybrid vehicles.“However looking towards 2050, there are many routes to achieving the Government’s targets for lower carbon emissions and there is a danger in prematurely picking winners from among new fuels or technologies.” (See fuel focus p22)