The availability of oil
worldwide has already peaked, the European Union's energy chief
Guenther Oettinger said on Wednesday.
"My fear is that the global consumption of oil is going to
increase, but European oil consumption has already reached its
peak. The amount of oil available globally, I think, has already
peaked," Oettinger told a news briefing in Brussels.
He was presenting a new EU energy strategy for investing 1
trillion euros over the next decade in a common EU energy
network, to curb the bloc's dependence on fossil fuel imports.