Building a world of
resilient communities.

MAIN LIST

 

Oil chief predicts $3 a litre petrol

ABC, AUSTRALIA - A senior Iranian oil executive has predicted the price of petrol in Australia will reach $3 a litre within three years as international oil prices hit new record highs.

Dr Ali Samsam Baktiari made the prediction while addressing a conference in Perth called "Oil - Living with Less".

Dr Baktiari is a chief adviser to the National Iranian Oil Company.

He says world production of oil will peak by 2007 at 82 million barrels a day.

"I don't think the world can pump much more than that, and any happening that will disrupt the slightest supply will send shock waves across the world and impact on the oil price," he said.

World oil prices have hit new all-time highs as Iraq's southern oil fields halted pumping to avoid a threatened attack by Shiite Muslim militia.

New York's light sweet crude for delivery in September surged $US1.02 to $US44.97 a barrel early afternoon, thundering past the previous record, set Friday, of $US44.77.

Brent North Sea crude oil for September delivery surged $US1.02 to an unprecedented $US41.65.

What do you think? Leave a comment below.

Sign up for regular Resilience bulletins direct to your email.

Take action!  

Find out more about Community Resilience. See our COMMUNITIES page
Start your own projects. See our RESOURCES page.
Help build resilience. DONATE NOW.

 

This is a community site and the discussion is moderated. The rules in brief: no personal abuse and no climate denial. Complete Guidelines.

Tags:  

Solar Panels have been Benefitting the Climate ‘since 2011’

In 2011, solar power reached a tipping point. This was the year when the …

The Rise of Community Energy

Around the world, the idea that communities install, own, and enjoy some of …

State of The Transition, November 2016: Steps forward continue to outnumber steps back

The global energy transition remains in a state of net forward momentum as …

World Energy Outlook 2016 – Fatih Birol in Brussels

On 16 November 2016 the International Energy Agency (IEA) presented its …

Waiting for the Climacteric: or, the Return of the Greentard

...I want to broach some wider energy-related issues with the help of two …

Peak Oil Review - Dec 5 2016

A weekly roundup of peak oil news, including: -Quote of the Week -Graphic of …

The Curse of the Modern Office

The information society promises to dematerialise society and make it more …