When Oil Dries Up

Sydney Morning Herald – Oil is close to running out, and chaos will follow, according to a US expert. Nick Galvin reports.

RICHARD HEINBERG is an unlikely latter-day Jeremiah. The contrast between this quietly spoken Californian college professor and accomplished classical violinist and his explosive message couldn’t be more marked.

Heinberg, who is embarking on an Australia-wide speaking tour, is a leading proponent of the “peak oil” theory.

Peak oil is shorthand for the premise that the amount of oil left for us to use has “peaked” (or is just about to peak). Once worldwide production begins to fall and with no corresponding decrease in demand, oil prices will skyrocket, leading to widespread chaos.
Sydney Morning Herald