BBC's Adam Porter reports on ASPO 2004

BBC's Adam Porter reports on the 2004 ASPO conference in Berlin. If you think oil prices are high at $40 a barrel then wait till they are four times that much. Matt Simmons suggests that the world price of oil should be set to $182 a barrel: "We need to price oil realistically to control its demand... because global production is peaking".

• Is the world's oil running out fast?