sst-0569

Today the drilling rigs are operating in water that’s three or four kilometres deep. Tomorrow they could go deeper still. But at some stage global production of oil will peak and begin a remorseless decline. The question is, how soon?I’m sure that we’re talking here, decades. So, we’re not hitting peak in 2010? We don’t believe we are even in 2030. The worse case is that it’s occurring now or very soon because the world is unprepared. It’s absolutely unprepared. There are no quick fixes in something like this. is a world addicted to cheap liquid energy facing the beginning of the end of the age of oil? In the ever spreading suburbs of Australia’s great cities where mortgages are high and private transport indispensable, everyone’s feeling the pinch.

Current drilling operations are reaching unprecedented depths in pursuit of oil, but global production is nearing its peak. While estimates suggest peak oil may occur within decades, the world is unprepared for the consequences. As reliance on cheap energy persists, the implications are felt widely, particularly in urban Australia, where high costs and dependence on private transport create significant challenges.