It will take more then a year gurutrader, thats what I think. Have to agree that Oil Price will rocket. New (petrol) cars will eventually be very cheap to buy in the near future, look at how cheap cars are getting, brand new cars from $16,000.
extracted from article.
Oil & Gas Depletion
Matt Mushalik (MIEAust) - October 2004
"The current NAFC (National Average Fuel Consumption) targets for 2005 and 2010 were set in 1999. The energy white paper should have reported here preliminary results in how far these targets were being met in the meantime. With peak oil approaching,
monitoring and controlling fuel consumption levels will really have to get very serious. In the coming years oil prices will be highly volatile, not sending out consistent price signals. This will have confusing effects on both car manufacturers and consumers deciding to purchase a new car. Yet, once oil production has started its terminal decline, oil prices will go up continuously and fuel efficient cars will be high in demand. The government must now initiate the production of Australian made hybrid cars. At the same time consumers must be made aware that fuel efficiency, not comfort and size will be the dominant factor when
purchasing a car. The time of choice will be over with peak oil. The government must also ensure that engine
efficiency gains are not eaten up by energy consuming accessories like power windows, air-conditioners etc."
"EXECUTIVE SUMMARY
No awareness of peak oil
(1) The government seems neither to be aware of the existence nor the proximity of global peak oil. There is now a consensus forming among many oil geologists that this epoch changing event may happen before 2010 (see Appendix 5). The energy white paper mirrors the focus of the International Energy Agency (IEA) which emphasizes on short term interruptions of oil supplies but ignores the realities of oil depletion (see Appendix 6)."
tp
HDR
hardman resources limited
