Financial Times FT.com

Energy Security

Big Oil warns of coming energy crunch

By Carola Hoyos in London

Published: August 4 2005 18:35 | Last updated: August 4 2005 18:35

International oil companies have embarked on advertising campaigns warning that the world is running out of oil and calling on the public to help the industry do something about it.

The world's five largest energy groups generally maintain that oil projects are viable with the price at which they test a project’s viability is within the around $20 a barrel. range. But their advertising and some of their companies' own statistics appear to tell a different story.

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