random notes

Branson: Oil crisis to hit food and travel costs

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Their report, entitled 'The Oil Crunch - a wake up call for the UK economy', warns the world is running out of oil and predicts shortages and price spikes as soon as 2015.
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The report said Government must acknowledge the risks to the economy and to produce contingency plans for transport, retail, agriculture and alternative power.

'Unless we do so, we face a situation during the term of the next government where fuel price unrest could lead to shortages in consumer products and the UK's energy security will be significantly compromised,' it said.
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'UK competitiveness will be hampered unless we can develop viable, affordable and secure long term sources of alternative energy,' he said.
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It said transportation was particularly vulnerable to rising oil prices, with businesses from supermarkets to manufacturers reliant on delivery networks.

The group said alternative methods of powering vehicles - for example electrification of the railways - should be explored and infrastructure developed.

It recommended removing the current £9bn tax break on fuel for domestic airlines and using the money for public transport investment, while also encouraging a shift away from car travel.

'The UK's freight network, cars and public transport systems are almost entirely dependent on oil,' Mr Souter said. 'The twin threats of the oil crunch and climate change make that unsustainable.'
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Government was also urged to plan for food price hikes, as agriculture relies on oil-related products like fertilisers. The report comes amid general fears about future energy security and costs in the UK. Energy watchdog Ofgem has warned electricity and gas may become unaffordable for an increasing number of households unless drastic action is taken to secure power supplies.
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Sudden supply shocks would 'quickly reverberate throughout the UK's supply chain', according to Dr Robert Falkner of the London School of Economics, who compiled part of the report. 'Air travel and road haulage are now the key reasons behind our dangerous addiction to oil,' he said.
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... well said ...
... hope somebody may listen ...
... actually we could fix the financial crisis ...
... with 100% occupation levels in state of emergency ...

... here on this side of the pond they are all jokers ...
... they are all persuading each other that the ameri-tanic is unsinkable ...
... but peak oil is the biggest iceberg humanity has seen in millenia ...
... 55% think god will come to save them ...
... they should be given free air tickets to go see the work of god in haiti ...

... we may go extinct on peak oil ,,,
... especially if we keep underestimating the issue ...
... we may end up making easter island 2.0 ...