Making Predictions: The Future of Oil

Presenter: Welcome to Energy Futures, and today energy expert Judy Collins is here to talk to us about the car industry. Judy, we’re producing more and more cars in the world every year. How will this growth grow( growth, grow ) affect oil prices?

Judy Collins: Well, Andy, industry analyst don’t agree on this. Certain experts say the demand for oil will increase decrease( increase, decrease ) dramatically. Oil companies will have to find new sources of oil, and this will be very expensive. One report estimates says( estimates, says ) that a 5% oil shortage could lead to a big price rise – maybe up to 400%. If that happened, we would have a very big oil crisis.

Presenter: And this crisis would really threaten threat( threaten, threat ) the automobile industry. I think about 60% of oil in the world is used to produce petrol for cars. Is that right?

Judy Collins: Yes, indeed. But it’s not only a question of petrol. Oil is also used to make plastics and other materials used in cars. About 20 barrels of oil are needed to produce just one vehicle. Some analysts have forecast predict( forecast, predict ) that the car will become a luxury item once again, too expensive for most people.

Presenter: But all these predictions seem very extreme. Is this really likely possible( likely, possible ) to happen?

Judy Collins: No, I don’t think so. I think there are reasons to be positive. Firstly, I think the technology is improving rapidly. Every year, new cars are using less and less petrol. Studies Students( Studies, Students ) have shown that if we can reduce petrol consumption by 2.5% a year, oil demand will remain stable. We’re doing this now.

Presenter: So you don’t think the oil situation will get worse?

Judy Collins: No, I don’t. Also, many new sources resources( sources, resources ) of gas have been found in recent years. Gas can be used as an alternative to petrol in vehicles, but also for heating and production of electricity. And we’re not going to run fun( run, fun ) out of gas because we have enough reserves for 200 years.

Presenter: Well, that’s a very positive message massage( message, massage ). Join us after the break, when Judy is going to be telling us about the latest technology in electric cars.