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US military warns oil output may dip causing massive shortages by 2015
* Shortfall could reach 10m barrels a day, report says
* Cost of crude oil is predicted to top $100 a barrel
Terry Macalister
Sunday 11 April 2010 18.47 BST

The US military has warned that surplus oil production capacity could disappear within two years and there could be serious shortages by 2015 with a significant economic and political impact.

The energy crisis outlined in a Joint Operating Environment report from the US Joint Forces Command, comes as the price of petrol in Britain reaches record levels and the cost of crude is predicted to soon top $100 a barrel.

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