Business leaders warn of impending oil crunch

8 February 2010

A report due to be launched on Wednesday will say that the UK economy is particularly dependent on oil and will urge any new government to pursue coherent policies to enable the UK to adapt to a future of high-cost oil.

The report has been compiled by the Industry Taskforce for Peak Oil and Energy Security.

This is a group of private British companies whose members include Sir Richard Branson (Virgin Group), Ian Marchant (Scottish and Southern Energy), Brian Souter (Stagecoach), and Philip Dilley (Arup).

Green Party leader Caroline Lucas MEP warmly welcomed the report. She said today:

"We shouldn't have to rely on business leaders to be ahead of the government on issues like this, because government should be well ahead of the game. But this report is very welcome, and I can guarantee that Greens who get elected in the coming general election will work very hard to make sure views like this are given the consideration they deserve in parliament."

Dr Lucas, the South East England MEP tipped by recent YouGov and ICM polls to be on course to win the Brighton Pavilion seat in the coming general election, added:

"The Green Party has been warning for decades of the need to future-proof our economy. We need a massive expansion in several sectors, not least renewable energy production and public transport, if we're to make sure our economy is stable, secure and resilient. And only the government has the capacity to organise the development of our economy on this scale.

"That's another reason why we need Green MPs at Westminster - to take the lead both in recognising the dangers posed by challenges like peak oil and in bringing forward the viable practical solutions."

 

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