David Strahan

Plenty of ink has already been spilled by oil depletion experts exposing some of the wildly optimistic assumptions contained in Maugeri’s report. More damning is that the work is shot through with crass mistakes that render its forecast worthless. When I interviewed him, Mr Maugeri was forced to admit a mathematical howler that would disgrace the back of an envelope…

Coal, so long the Cinderella of fossil fuels, is not just in demand but in desperately short supply. The world’s biggest producers and exporters are struggling, and the price of imports to Europe has doubled. Does this mean lower emissions from coal and less danger from climate change?

In an interview with Global Public Media, Sir Richard Branson told journalist David Strahan that aviation could be made “truly sustainable” at the launch of test flight fuelled in part by coconut oil. But the Virgin boss conceded that meaningful supplies of alternative fuel might not be available before the advent of peak oil, which he said could happen within six years.

The world will have to suffer a deep economic downturn before serious attempts are made to kick the oil habit, according to Robin West, chairman of PFC Energy, the Washington-based oil consultancy.

BP chief executive Tony Hayward stressed the company’s commitment to the North Sea during its results press conference this week, saying it would continue to produce there “until we put the lights out”.

Coal prices are predicted to hit $300 per tonne this week, a threefold rise that eclipses even the most bullish forecasts made just a few days ago. Experts say there is still no ceiling in sight and predict further upward pressure on European power prices.