Australia: Oil hits new record high

…The latest price increase has prompted a call for the Federal Government to take the lead in preparing Australians for the possibility of oil rationing.

The volunteer-based Association for the Study of Peak Oil says global oil production could start to decline from 2012.


Convenor Bruce Robinson says it raises the prospect of oil shortages.

“We’d recommend there be oil vulnerability task forces set up to start discussing this matter [and] educating people,” he said.

ABC (Australia)