Tuesday, 23 March 2010

... and the news just keep on coming in : 'Peak Oil is here'

University of Oxford researchers from the Smith School are next in line in their 'The status of conventional world oil reserves — Hype or cause for concern?' in Energy Policy.

In summary, they state:

  • conventional oil is peaking
  • biofuels cannot fill the gap - not enough land for food and biofuel production
  • unconventional oil is way too CO2 intensive - need an alternative
  • not enough investments into alternative liquid fuels
In a related interview the founding director of Smith School, Sir David King, warns (again) about shortages and oil price spikes in coming years.

The question is not any longer whether the cat is out of the bag, but for how long can the mainstream politicians control the information and keep the masses calm.

Never mind, keep the music playing! Economy is recovering, unemployment is decreasing, house prices are bouncing, car sales are booming and oil consumption is....