Kudrin: world to pass oil consumption peak during 10 years

Kudrin: world to pass oil consumption peak during 10 years

The world has already passed the coal consumption peak and will pass the oil consumption peak within a decade, head of the Russian Accounts Chamber Alexei Kudrin said at the St. Petersburg International Economic Forum on Thursday.

"I believe we will pass the oil consumption peak over this decade. We have already passed the peak consumption of coal. We will have to see a decrease in our external oil revenues if not in 10 years, then it will be a major challenge during 20 years," TASS cited the official as saying.

To cope with this challenge, investments for solution of this task should be provided already now, Kudrin added.

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