There was just a episode of Eco Report on Sky News which had half the show talking about Peak Oil and its reality.
The episode will be repeated this week.
There will also be a audio podcast available for the sky news website ( http://skynews.com.au/podcast I am not sure if its been updated yet )
For anyone that doesn't know what Peak Oil is
Peak Oil is NOT that we have run out of oil. Peak Oil is that supply can not meet demand.Peak oil is the point in time when the maximum rate of global petroleum production is reached, after which the rate of production enters its terminal decline. If global consumption is not mitigated before the peak, an energy crisis may develop because the availability of conventional oil will drop and prices will rise, perhaps dramatically. M. King Hubbert first used the theory in 1956 to accurately predict that United States oil production would peak between 1965 and 1970. His logistic model, now called Hubbert peak theory, has since been used to predict the peak petroleum production of many other countries, and has also proved useful in other limited-resource production-domains. According to the Hubbert model, the production rate of a limited resource will follow a roughly symmetrical bell-shaped curve based on the limits of exploitability and market pressures.
Supply has not increased since about 2005.
We currently consume about 80 million barrels a day
By 2030 going by historical growth rates we will demand 120 million barrels a day
Based on current data we will only be able to produce 40 million barrels a day in 2030
I am not some dooms day person giving up and going to live in a bunker on a remote farm. I think Peak Oil has a lot of advantages in terms of no more money going over seas and better for the environment and better cities. But we need to act now.
Our public transport needs to be fixed. We need fast, reliable and frequent public transport to all our suburbs.
We need to get rid of the stupid height restrictions so we can get a much higher density in the CBD. We need high rise buildings in major suburban centres in places like Modbury around Tea Tree Plaza and the same around Marion. High Rise apartments with major public transport links.
We need to force Holden to produce more fuel efficient cars and hybrid cars. IF Peak Oil does hit, Holden in Adelaide will be gone. All those people will be out of jobs which will create huge problems for this state.
Thoughts?