Oil Crisis - Should We Panic?

[air]

According to BBC from 07.11.07 the ever-weakening dollar and fresh worries about winter fuel supplies have sent US oil prices to $98 a barrel.
The effect was worsened by storms in the North Sea on Tuesday, which disrupted supply as prices inched closer to the $100-a-barrel mark.
Nonetheless, some analysts say that $100-a-barrel oil is inevitable.
The International Energy Agency has said that world production overall will peak between 2010 and 2020.

How will we be facing that?? Are governments investing enough in other alternative sources??
If the price of oil rises to more than $100 a barrel, will alternative energy sources become more popular?
I think we are not really concerned about the real problem and the way it will affect us...
"The real shock about today's oil shock is that it isn't a shock"
Think about it, maybe your children won’t be able to fly…
There is also a good documentary focused on peak oil phenomenon, called A Crude Awakening.

Best wishes

[StuartDH]

"Oil Crisis - Should We Panic?"

Yes, let's panic! There's nothing like solving a problem than having a good old fashioned panic

I see you borrowed Matt Frei's line from his very interesting article on the BBC last week BBC NEWS | World | Americas | Washington diary: Oil shock

[coasty]

Dont panic,,,, It just burns up more energy

[andyw]

can`t help wondering if we wouldn`t be better off for peak oil.obviously not financially but think, less traffic, less pollution, more exercise, less food imported from countries who should be eating it themselves ,alternative energies given a boost.
in short , the whole consumer society ethos given a kick up the oeoeoeoe

[Pagan_Dave]

You'll see a resurgence in community allotments and new ethos in people growing and making their own food - seeing that there won't be enough petrol for us to get the big out of town supermarkets!

Originally Posted by andyw

can`t help wondering if we wouldn`t be better off for peak oil.obviously not financially but think, less traffic, less pollution, more exercise, less food imported from countries who should be eating it themselves ,alternative energies given a boost.
in short , the whole consumer society ethos given a kick up the oeoeoeoe

[air]

Did you see news on oil prices yesterday on BBC and ITV?
What do you predict- How much time more we have until world oil reserves run out? Are we approaching the end of an era of cheap oil?

[Pagan_Dave]

It is believed that oil has already peaked, probably last year, and we are now witnessing the steady decline of oil - hence the price of a barrel of oil going up $26 in the past couple of months!

Running out of oil doesn't bother me, its the attitude of how people and how they are going to adapt to a drastic lifestyle change that bothers me; i'm not a doom-mongerer but i hope that we don't witness a society collapse and widespread chaos due to everyone panicing Can you really see people digging up their back yards to grow food because they can't drive to the supermarket, and how are the lorries going to deliver the food to the supermarkets if the petrol is rationed by the government?? People will have to change their ways i'm afraid.

Originally Posted by air

Did you see news on oil prices yesterday on BBC and ITV?
What do you predict- How much time more we have until world oil reserves run out? Are we approaching the end of an era of cheap oil?

[Ukwildlifeo]

lol you got to love oil companies. The excuses they come up with for putting up oil prices. There was a storm in autumn in the north sea oooooOOOOOOO