2010 Peak Oil Report | The Peak Oil Group - 1 views
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Phil Slade on 27 Feb 10"Business calls for urgent action on "oil crunch" threat to UK economy Taskforce warns Britain is unprepared for significant risk to companies and consumers Poorest to be hit hardest by price rises for travel, food, heating and consumer goods New policies must be priority for whoever wins the General Election Recommended packages include legislation, new technologies and behaviour-change incentives Fundamental change in demand patterns triggered by emerging economy countries London, 10 February, 2010: A group of leading business people today call for urgent action to prepare the UK for Peak Oil. The second report of the UK Industry Taskforce on Peak Oil and Energy Security (ITPOES) finds that oil shortages, insecurity of supply and price volatility will destabilise economic, political and social activity potentially by 2015. Peak Oil refers to the point where the highest practicable rate of global oil production has been achieved and from which future levels of production will either plateau, or begin to diminish. This means an end to the era of cheap oil."