Peak oil bigger problem than climate change

Peak oil is a much more immediate problem than climate change, delegates at a Finsia seminar heard yesterday.

But the potential ramifications of climate change just make the problem worse, said Ian Dunlop, a former petroleum engineer who is now the deputy convenor for the Australian Association for the Study of Peak Oil.

This makes the combination of peak oil and climate change “the biggest issue the world has ever confronted, not just in a warm, fuzzy context but in what it means in a hard-edged business sense,” he said.

Peak oil illustrates how vulnerable the economy is if we continue to rely on fossil and non-renewable fuels, said Dunlop.

Financial Standard