http://www.energybulletin.net/19160.htmlDuring our lifetime most of us have enjoyed – even taken for granted – the benefits of 'cheap' oil. Peak Oil refers to the point when the maximum amount of oil that can be extracted globally is reached. Thereafter, production will tail off as remaining reserves become more difficult and more expensive to harvest.
Having looked into this issue in depth, the Soil Association is convinced that in the very near future (perhaps as soon as 5 to 7 years' time), all our lives will be changed significantly by this reduced availability and affordability of oil.
After the peak oil year – which could be as soon as 2008 - the price of oil is likely to rise dramatically. Putting it graphically, 'Imagine having a taxi meter in your car. Try tripling the fare and then see what happens!'
By 2021, it has been estimated that we will have to adjust to a supply of just 50% of today's volumes. Under that scenario, many of the services that we currently take for granted - cheap flights, cheap imports and global distribution of food - will be radically curtailed.
<more>