World Facing Energy Crisis Say Oil Producers [View All]

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World Facing Energy Crisis Say Oil Producers

The world is about to face an energy crisis because the demand for oil keeps growing even though production is already at its maximum, Venezuelan President Hugo Chavez said yesterday.

Chavez, whose country is the world’s fifth largest crude oil exporter, said that all OPEC members were “producing at full steam.”

“There’s a worldwide energy crisis around the corner,” Chavez told reporters at the end of the first Summit of South American-Arab Countries in Brazil.

“Especially because the US and other developed countries, but more so the US, have built a way of life based on the wasteful consumption of oil, which is non-renewable.”

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