From Sir Richard Branson and others.

Sir, Your report “Ofgem foresees looming threat to gas supplies” (January 13) raises some serious concerns over national energy security.

The “gas crunch” identified in your report is probably going to be matched, or exceeded, in its effect on the UK economy by a similar “oil crunch”. This prospect was first identified by the Industry Task Force on Peak Oil and Energy Security (ITPOES) in its report dated October 2008. Oil supply has very similar characteristics to gas, except that the run-down in indigenous production is more advanced and the availability of oil is more limited with respect to future demand. (The ability to extract “tight” gas from shale, at economic prices, has transformed the near-term international prospects for future gas supply.)

A second report from ITPOES, updating and reinforcing the case, will be published by us on February 10. For those interested in the future security of UK energy supplies, it should be essential reading. From businesses to consumers, it is a wake-up call to every one of us about the future implications for our daily lives.

Richard Branson,
Founder, Virgin Group
Philip Dilley,
Chairman, Arup
Jeremy Leggett,
Chairman, SolarCentury
Ian Marchant,
Chief Executive, Scottish and Southern Energy
Brian Souter, Chief Executive, Stagecoach Group