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In the papers - Monday, 22 October 2007

World oil production has already peaked and will fall by half as soon as 2030, according to a report which also warns that extreme shortages of fossil fuels will lead to wars and social breakdown...

...The German-based Energy Watch Group will release its study today saying that global oil production peaked in 2006 - much earlier than most experts had expected, and a decline in gas, coal and uranium is also predicted - The Guardian

Drivers on the busiest motorways are to be allowed to use the hard shoulder to help ease traffic congestion. Ruth Kelly, the Transport Secretary, will this week point to the success of a pilot scheme on the M42 in the West Midlands – The Daily Telegraph

Dubai is set to launch the largest ever stock market floatation in the Middle East, selling a 20% stake in Dubai Ports World for around £2bn. Dubai Ports World became the third largest container ports operator when it paid £3.9bn for P&O at the beginning of last year – The Independent

Transport for London, the London Underground’s public sector owner, faces pressure from the government to increase private sector involvement in its planned bid for the Underground’s main maintenance and upgrade contractor - The Financial Times

The government’s stance is part of an effort to ensure tight control of costs if it takes over Metronet Rail, which is responsible for maintaining and upgrading track and trains on two thirds of the London Underground but has been in administration since July - The Financial Times

A group of energy companies angered by a Government U-turn on carbon capture technology are pressing for assurances that there will be no similar back-tracking when ministers hold the next round of emissions talks with the European Union. At a meeting with Whitehall officials last week, the companies, which may have lost millions of pounds on developing technology that may now be sidelined, are understood to have set out a wish list of demands – The Daily Telegraph

Train companies are putting the lives of passengers at risk unnecessarily because they are refusing to fit laminated safety glass on their older trains, according to a report by the Rail Safety and Standards Board – The Times

Cameras will be allowed to broadcast hearings before Britain's highest court when the new supreme court opens for business. Judges say that Jack Straw, the Justice Secretary, is keen to permit cameras into the court as part of the aim to make it more transparent – The Times

The world's big investment banks accepted collective blame yesterday for lax spending and weak practices that triggered the global credit market turmoil and vowed to shoulder responsibility for taking corrective action – The Times

The City of London Corporation is putting together a £150M levy on large companies across London to help pay for the much-delayed £16bn Crossrail project – The Times

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