Prepare for the Late, Late Oil Age

I RECENTLY had the pleasure of accompanying US author Richard Heinberg on a lecture tour of SA, focusing on his contention that the global peak in oil extraction is very close and significant. Although he is a genial man with a good sense of humour, his message is sobering. He readily acknowledges that his thesis is controversial (meaning there are people who disagree with it, which is no surprise) but the logic of his central argument is compelling and was not effectively challenged in any of his 15 public engagements while here.

He and others point out that oil
BusinessDay