Welcome to the 'New Somerset and Dorset Railway'
Tuesday, March 16, 2010
a peek at the peak
I heard the words 'Peak Oil' mentioned for the first time on television yesterday. It wasn't on some obscure cable channel either but on peak time BBC. For some reason the programme 'Bang Goes the Theory' had a little feature on Peak Oil. I'd expected them to come up with one of the myriad of miracle energy cures but in fact they never mentioned any such thing. Just mentioned Peak Oil. Their researcher needs a good kicking though for suggesting that Peak Oil was 'until recently' the exclusive concern of bearded hippies (cue an interview with Richard Branson). Of course the hippies daren't even mention Peak Oil as it destroys their whole climate change agenda - Peak Oil is, of course, the baby of economists, oil professionals and financiers, a totally different demographic to the green lot.
Nethertheless the fact that Peak Oil is at last being spoken about in the mainstream suggests that it is being eased in gradually, that the bad news so heavily cloaked in climate change posturing is beginning to seep through.
We also heard today that the price of petrol is likely to hit £1.20 per litre this summer. There is a relentless rise in the cost of hydrocarbon energy, and no amount of subsidy, taxation, quantitative easing or lobbying can hide it. You can't hide from cold hard economics.
If the New S&D is anything it is an unsentimental, forward-looking and hard-nosed organisation that is already beginning to exploit the effects and forecasts of Peak Oil. As I've said for years we are pushing on an open door and has any group ever been so firmly on the right side of history?