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IF YOU think OPEC ministers are a conspiratorial cabal, you ought to meet the Oil Depletion Analysis Centre (ODAC). This colourful group is convinced that the world is perilously close to an oil shock induced by scarcity, not politics. Several dozen of its members got together recently in an auditorium at Imperial College, London, for a peculiar planning session.
Leading lights of this movement, including Colin Campbell, a geologist and author of "The Coming Oil Crisis", presented technical data that supported their grim prognosis. Various experts ridiculed rival analyses, done by America's Geological Survey and the International Energy Agency (IEA), that contradicted their views. Dr Campbell even decried the "amazing display of ignorance, deliberate ignorance, denial and obfuscation" by governments, industry and academics on this topic.
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