UK: TOWN GEARS UP FOR TIME WHEN OIL HAS HAD ITS DAY

We are just getting used to climate change and trying to do our bit to reduce, reuse and recycle, when it seems there’s another concept to take on board, namely peak oil.Peak oil is the point in time when the maximum rate of oil production is reached, globally.

After that, the rate of production starts to decline, some say terminally.

If our rate of consumption is not curtailed before we reach the peak, then an energy crisis may develop because the availability of conventional and cheap oil will drop. Some blame the current growing recession on rising oil prices.

Scientists don’t agree about when total oil resources will peak.

Some suggest it has already happened, others say it’ll be 2020. Whichever it is, since January this year, oil prices broke through the 100 a barrel barrier for the first time ever.

You only have to fill up your car to realise how much more petrol costs now compared to a year ago.

Someset Standard