Thursday September 21, 2006

The peak oil crisis: a report to Australia's Senate

energybulletin.net :

Last fall Australia's Senate, concerned about the future of the country's oil supply, directed a standing committee to, in essence, conduct an inquiry into peak oil. Two weeks ago the preliminary findings were issued as an interim report. A final report to the Australian Senate is to be released next month.

The major finding of the report is stark and simple. "In the Committee's view the possibility of a peak of conventional oil production before 2030, even if it is no more than a possibility, should be a matter of concern. Exactly when it occurs (which is now very uncertain) is not the important point. Australia should be planning for it now, as Sweden is doing with its plan to be oil free by 2020."

Other findings also show a sophisticated grasp of the issue. "If the price of oil declines in the next few years ... this does not dispose of peak oil concerns. Peak oil is a different and much longer term concern." In subsequent chapters, the report goes on to examine the social impact peak oil will have on Australia, and what can be done from the supply and the demand side to mitigate the situation.

See also :

1. Tank low and running on fumes
2. Australians guzzle oil while supplies dwindle

(2006-09-21 23:49:40 SGT) [Energy] Permalink

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