Today, the world’s energy ‘watchdog’, the International Energy Agency (IEA) published their long awaited annual World Energy Outlook (WEO) for 2008. In stark contrast to bland-to-cornucopian supply commentary in past reports, the initial language in this years Executive Summary is of an urgent nature. This report is a step in the right direction for conveying our rapidly deteriorating energy situation to world policymakers - the IEA should be commended for making the turn and finally acknowledging: costs, investment limitations, new capacity requirements, steep decline rates of existing wells, and externalities (in this case GHGs).

The era of cheap oil is over, the International Energy Agency warned yesterday as it predicted crude values would soon rebound to above $100 a barrel and double again by 2030 as fields in the North Sea and elsewhere in the world declined faster than expected.

More than $26tn (£16tn) of new investment would be needed over the next 20 years to ensure the world had enough energy, according to the IEA, which was founded during the oil crisis of 1973-74 and acts as energy policy adviser to 28 member countries including Britain.

“While market imbalances could temporarily cause prices to fall back, it is becoming increasingly apparent that the era of cheap oil is over,” the organisation stated.

Man is responsible for the greatest extinction of wildlife since the demise of the dinosaurs with a 35% decrease in biodiversity over the past 35 years, according to new research.

The finding is expected to emerge in the latest audit of the world’s animal and plant life by WWF, formerly the World Wide Fund for Nature.

It will warn that humanity’s ruthless exploitation of the environment is creating an unsustainable “ecological debt”, with more species wiped out in the past 35 years than in the previous 300.

A quarter of the world’s mammals are threatened with extinction, an international survey showed on Monday, and the destruction of habitats and hunting are the major causes.

The report, the most comprehensive to date by 1,700 researchers, showed populations of half of all 5,487 species of mammals were in decline. Mammals range in size from blue whales to Thailand’s insect-sized bumblebee bat.

More than half of all frogs, toads and newts living in Europe could be driven to extinction within 40 years as climate change, diseases and habitat destruction take their toll, scientists warned last night.

The majority of the most threatened species live in Mediterranean regions, which are expected to become warmer and drier. Island species, such as the Mallorcan midwife toad and Sardinian brook newt, are especially at risk because they are unable to move to cooler climates.