Peak Oil: The Next Big Thing

In between shark attacks, missing persons, Michael Jackson, and who knows what else, you might have missed a few important stories. On the 4th of July, a power plant in Grati, on Indonesia's island of Java, was shut down after it just plain ran out of its stored fuel oil. Another power plant on the island is going to close next. This should not be all that surprising. Oil is now trading at $60 a barrel, and the first to suffer from this are those who can't cough up that kind of dough. But this is just the beginning. The price won't come back down, and soon enough you will begin to feel the pinch. Grab a cup of coffee and read on ...

(2005-07-10 10:16:08 SGT) [Energy] Permalink

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