More on oil
Is peak here? It looks like it is
Cherry pickings from the article :
3. OPEC can't change things. Members of the global oil cartel were the "bad guys" in the last oil crisis. This time round they seem to be making things worse by refusing to lift production, but increasingly it's looking like OPEC won't lift production because in reality it can't - the extra oil is simply not there.
In November, the International Energy Agency is due to publish a landmark report on the condition of the world's 400 biggest oil fields - it is expected to show OPEC has less oil than everyone thought.
10. The maths are scary. Back to Pickens: the veteran Texan oil tycoon says the world needs 87 million barrels and we're producing 85 million barrels a day.
So, peak oil's here? The price charts suggest that it is. What does this mean to us? Transport gets very expensive, private car use will have to decrease. Petrol gets rationed. Air travel becomes a plaything of the very rich as the golden age of travel draws to a close. Roads get more bicycles and less cars, so cyclists will be safer riding on the roads. Food gets more expensive. If you're going to watch The Tour, it'll be on TV, not by going there. How soon does this happen? That's the interesting question, not if, but when. If I owned shares in anything dependant on cheap oil (travel, airlines, cars, toll roads etc) I'd be selling them while they're still worth something. If I worked far from home, I'd be looking to change jobs. If my car uses a lot of fuel, I'd be selling it while it's worth something.
I'd be getting used to riding my bike to as many places as I can.
I'd be growing veggies in the back garden.
On your bike!