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Oil reserves will peak within five years: report

ABC World Today, 29 October 2008

A report to be released in the UK later today predicts that the world's oil reserves will reach their peak in three to five years. The report warns that this means political leaders will have to rapidly re-evaluate the global economy's reliance on cheap sources of energy.  And as Jennifer Macey reports, local experts say Australia has already reached peak oil. A taskforce of eight British engineering, utility and tr