Saturday, November 21, 2009

If Nothing Else, Save Farming

It’s probably too late to prepare for peak oil, but we can at least try to salvage food production.

By George Monbiot. Published in the Guardian 16th November 2009

I don’t know when global oil supplies will start to decline. I do know that another resource has already peaked and gone into freefall: the credibility of the body that’s meant to assess them. Last week two whistleblowers from the International Energy Agency alleged that it has deliberately upgraded its estimate of the world’s oil supplies in order not to frighten the markets. Three days later, a paper published by researchers at Uppsala University in Sweden showed that the IEA’s forecasts must be wrong, because it assumes a rate of extraction that appears to be impossible. The agency’s assessment of the state of global oil supplies is beginning to look as reliable as Mr Greenspan’s blandishments about the health of the financial markets. Read entire article here.

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