In case you hadnt noticed, the price of oil is on the march. And there’s analysts saying we’ll look back at 2008 in the years to come and think we were lucky. That petrol was cheap.
So what is happening with oil?
There’s no doubt the world’s demand for oil is increasing in a big way. What is in contention is the world’s supply.
A growing number of experts are saying we won’t be able to keep up with the world’s insatiable demand. And in fact, we’ve reached a tipping point. The term they’re using is ‘peak oil’.
In this interview, Michael Lardelli from the University of Adelaide sounds the alarm bells. Listen to the interview with Michael Lardelli on peak oil.