Study says renewables are the answer

The research, carried out by the DGFI, says that oil resources will be scarcer by 2020, yet the demand for energy is on the rise. It points out that 30 countries provide the entire world’s production of oil and that political unrest in many of these countries could restrict oil exports.

Some governments are giving locals unsustainably low cost oil in order to stop unrest and that once the maximum level of oil production is reached then there could be a global oil crisis.

However, if investors were to plug funds into the renewable sector then they could benefit in the long term from more efficient energy production.

Another incentive to invest in alternative energy is that oil prices are becoming exceedingly volatile and cheap crude oil no longer exists, the study says.