by clv101 » Wed 03 Oct 2007, 14:10:01
In an attempt to engage with the electorate, last year the UK Government launched an e-petitions service on their website. One petition focused on peak oil, it read:
$this->bbcode_second_pass_quote('', 'W')e the undersigned petition the Prime Minister to acknowledge that global oil and gas supplies are peaking and will soon decline; a situation requiring immediate action.
Today the Government has responded.
$this->bbcode_second_pass_quote('', 'T')he Government fully recognises that there is uncertainty around the issue of future global oil and gas production. However, on the balance of the available analysis and evidence, the Government's assessment is that the world's oil and gas resources are sufficient to sustain economic growth for the foreseeable future.
As the International Energy Agency (IEA) notes in its 2005 publication, Resources to Reserves - Oil and Gas Technologies for the Energy Markets of the Future, the key problem is not the limit of geological oil resources: "The hydrocarbon resources around the world are sufficiently abundant to sustain likely growth in the global energy system for the foreseeable future". Rather, the challenge lies in bringing these resources to market in a way that ensures sustainable, timely, reliable, and affordable supplies of energy.
In this context, the 2007 Energy White Paper (new window) noted (paragraph 1.18 ) a number of risks to oil and gas security of supply and prices, including factors that could defer or restrict investment in energy production and hence lead to slower-than-expected growth in production. However, the current high oil prices are already providing incentives for strong investment in alternative sources of transport fuels, such as non-conventional oil and biofuels, and driving energy efficiency improvements in the way the world consumes oil, e.g. in transport vehicles. Governments are also taking action - internationally and domestically - in support of this.
For example, as set out in the Energy White Paper, the Government is putting in place policies that will help ease the UK economy away from power supplied primarily through fossil fuels as well as bringing about reductions in carbon dioxide emissions. Our strategy is to work to liberalise international markets, create the right environment to attract investment in exploration and infrastructure and, through measures to improve energy efficiency, and our ongoing commitment to renewable and other low-carbon technologies, help reduce our dependence on fossil fuels .
The Government has also launched the Low Carbon Transport Innovation Strategy (new window) setting out a wide range of actions Government is taking to encourage innovation and technology development in lower carbon transport technologies.
.