Virgin's Richard Branson takes on peak oil

A report out of Britain funded by Virgin Airlines owner Richard Branson and other British business leaders warns that peak oil is looming in 2015. The controversial idea that growing oil demand will soon outstrip more finds is capturing the attention of governments.

London - Long-accustomed to being dismissed as alarmists, the arguments of those warning of an impending peak oil crisis are now being bolstered by support from multi-billionaires like Richard Branson.

A major report funded by the Virgin Airlines owner and other British business leaders warned this week that the world is running out of oil and predicts shortages and price spikes as soon as 2015. A future of painful hikes in the cost of food, heating, and travel in a world unprepared for surging oil prices was forecast by the Industry Taskforce for Peak Oil and Energy Security. More >>>