A New Reality On Its Way

Peak oil will mean the end of economic expansion, argues Paul Stuart.

Published: 29-Jul-2007

There continues to be much attention of the global warming issue. Both sides of the debate make a good case; that warming is a natural cycle of the earth’s climate, as well as the natural course of change has been increased by humankind’s activity.

Overlooked is that with the former, there is nothing we can do to affect this change. With the latter, again, even if we ended industrial society today, we have released so much CO2, it will take centuries to run its course. We can offer little reasonable action; to pretend otherwise is foolish. We now have no choice but to adapt.

But the elephant in the room is peak oil. The International Energy Agency recently made an about face in it’s traditional all is well stance. Accepting the world is in very serious trouble, an expansion of all economic energy sources will be required and it urges consuming countries to put in place radical and extremely tough policies to curb oil demand.

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