Peak oil - Fact or fiction?

[Scythe13]

I love BP's optimistic pessimism. Expect the worst, if it doesn't happen, you're quids in! Love it mate.

There are tarsands that apparently hold enough oil to last us another 100 years (why is it always 100 years these things are meant to last?) There are breakthroughs in development and the extraction system has become financially viable. So that is a good thing. But it doesn't mean the price of the fuel will go down. It never does.

The price of fuel has already gone up this year by over 3% in just over a month. December saw diesel at 137, now it is at 141 in the same places. One of the biggest reasons to start storing fuel will simply be the price punch. You know that feeling, like someone has punched you in the wallet? That is the price punch. When over 50% of your pay cheque goes towards filling the car. That is when it will be too damaging for society to deal with.

I don't believe we need to worry about running out of fuel as the disaster to plan for. I fear much greater things will happen before then.

The only reason we might have to worry about fuel shutdowns, would be if something happens with Iran, and the gulf canal thing that ferries 70% (why can I not capitalise a number? That's a HUGE thing to think about SEVENTY PERCENT!!!!) of the worlds oil goes through. They'll have to find a new route. Which will not be cheap! So either way, we will have fuel, but will be paying for it out of our noses!!!