I was just about to write on my blog about the bet on Peak Oil with BP Chief Executive Officer Tony Hayward when I found out that Bloomberg News already had spread it around the world:
BP chief bets ‘peak oil’ backer output will keep rising
BP Chief Executive Officer Tony Hayward is putting money on the line to dispute the theory of peak oil, according to his counterparty in the wager Kjell Aleklett, a professor at Sweden’s Uppsala University.
Hayward bet Aleklett the price of one barrel of oil in 2018 that global crude production will be greater than the current daily output of 85.5 million barrels, the professor said during his speech at the Asia Oil and Gas Conference in Kuala Lumpur. Total supply was 86.8 million barrels a day, including natural gas liquids such as propane.