Energy forecasts - Radical shift on energy usage needed

BLEAK forecasts that petrol prices could soar to €5 a litre at the pumps within four years are certain to concentrate the minds of motorists and homeowners who are already paying through the nose for energy products.

As crude oil resources become scarcer and demand rises inexorably, spiralling prices will ultimately force governments to revise economic strategies, compel energy-dependent industries to adopt new production methods, and drive individuals to use more efficient heating and transport systems.

According to experts, whose crystal ball vision of the future is bleak in the extreme, there can be no doubt the relentless surge in oil and gas prices, triggered by the Iranian-US nuclear crisis, is set to continue.