It may already be too late to listen to Martin Tallett.
The consultant, who has more than four decades’ experience in oil refining, presented research two years ago to the United Nations’ agency charged with setting rules for the maritime industry. In it, he warned oil markets would be strained if tough standards for shipping fuel were imposed from 2020. The start date was set anyway.
Fast forward to today, and Tallett says he’s more concerned. What worries him is a demand surge so great that by 2020 the world will need 2.3 million barrels more oil a day than was being predicted when he did his previous research. That’s close to Germany’s consumption.