Monday, May 2, 2011

Peak oil highlights need for a unified policy

The infrastructure Australia needs to respond to the world's dwindling oil supply is not the sort we are building. 

Peak oil is forcing its way to the top of the agenda with stark warnings from the International Energy Agency and others repeated on ABC radio and television this week, after an investigation by the Catalyst program.
Following up a similar program she made in 2005, journalist Jonica Newby gained a rare interview with IEA chief economist Fatih Birol, who said crude oil production peaked in 2006 and, in veiled terms, added that governments should have started working seriously on the problem a decade ago and warned of the threat of more oil wars.
Whereas five years ago the IEA expected total production - including oil from deep-sea drilling and unconventional sources such as tar sands - could rise to 120 million barrels a day by 2030, the agency now expects production will reach only 96 million barrels. And Birol reckons there are no guarantees it can be brought out of the ground in a timely fashion. Read more:

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