Friday, September 15, 2006

Tank low and running on fumes

From the Austrailan paper The Age:

A CONTROVERSIAL theory that global oil production will peak within 25 years has been embraced by a Senate committee with the warning: be worried now.

The committee says that, like Sweden, which plans to be oil-free by 2020, Australia should be preparing for an irreversible decline in world oil supplies.

A report released last week by the Senate's rural and regional affairs and transport committee is the first official recognition at a national level of the "peak oil" theory. This suggests that global oil production will peak before 2030, then start declining, with terrible social and economic consequences.


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