We all know that eventually oil is going to run out and then we seem to blindly hope that science will have come up with a replacement. However there’s another theory and that is Peak Oil the point when maximum rate of production is reached, that’s when problems start; daily production exceeds daily demand.

A report from the Industry Taskforce on Peak Oil & Energy Security comes to the conclusion that the effects of peak oil will be felt in the next five years – during the next term of government.

Even if the report is being pessimistic the priorities for Alastair Darling’s spend spend spend strategy must surely be aimed at drastically reducing the UK’s dependence on fossil fuels – if we are to rob the proverbial Peter to pay Paul, then let’s try and ease the taxpayers pain in paying Peter back.

Source: The Guardian.