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Nearing Peak Oil?

This is a discussion on Nearing Peak Oil? within the Economy forums, part of the Topical Discussion category on Politics.ie. Climate change seems to be the buzz term right now and economically we face the bill of paying for our ...

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Old 21st August 2007
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Default Nearing Peak Oil?

Climate change seems to be the buzz term right now and economically we face the bill of paying for our participation under the Kyoto Protocol in the global initiative to reduce CO2, but have we overlooked the more ominous prospect of reaching peak oil without a clearly defined economic strategy from the fallout of not only having to pay vastly inflated fuel prices but actually facing a fuel shortage? (Predictions are that we've peaked in oil production and that the current surplus in supply against demand goes into the negative around 2010). Our demand for oil is steadily rising, which is inextricably linked with economic growth (fuel increase & population increase), are we prepared for the economic reality of HAVING to decrease our fuel use (economic decline) and having the economy solely relying on population increases (immigrants) for growth?

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