BP plc (ADR) (NYSE: BP) Special Economic Advisor Peter Davies also told ministers from Britain's Parliament that world oil production is likely to peak -- but not due to any "peak oil" scenario involving declining recoverable supplies and/or declining production -- but rather due to declining demand, Reuters reported.
"I think we will run out of demand before we run out of supply," Davies said, Reuters reported. "There's a distinct possibility that global oil consumption could peak as a result of climate policies."



