I was reading overlander magazine the other day and there was an article in the back from one of the regular contributors and it was about this environmental meeting thing (has some queer name cant remember what it was) in shanghai and he went along for a listen.
Here is the short of what he said about oil and the price of fuel.
At the moment fuel would be over $2/L if the Aussie dollar wasnt so strong against the USD.
However things are looking grim, at the moment we (the world) are using crude oil as quickly as we can suck it up, there are no more oil reserves to be discovered (direct from one if the big men at Shell), we simply cant suck it up any quicker, so as demand goes up, supply cant, hence price rises.
Wait it gets worse. At the moment for every 1000 people in Aus, around 600-700 own a car, in China thats 25-30 cars for every 1000 people. At present there are 800million cars on the planet wizzing around using fuel. In the next few years with industry booming and the economy booming in china the amount of cars/1000 people will match australia, when that happens the amount of cars in the world will double, yet oil supplies remain the same, and remember they are struggling to meet demand now. When this happens only James Packer will be able to put fuel in his Aston Martin, the rest of us will have to walk. Well maybe not that bad. but you get my point.
but as he also pointed out there are upsides to this. Cars are more fuel efficient than ever at the moment, with maybe the exception of the US, and they will only get more efficient as technology becomes available and there is a drive to push for economic cars.
Also at the moment people can still afford, well the can still pay for fuel. When it hits $2/L plus people will be stretched further and further. As the price of fuel goes higher the push for alternative fuels will get harder and all these patents that the oil companies have been hiding for so many years for clean renewable options for powering cars will become available and financially viable. So things arent all bad, well not for the future anyway. Matt

