Petrol prices to hit $3 per litre in 3 years...

[Slymeat]

Even if it does run out, ever heard of synthetics. If all else fails back yard stills and we can all convert to run on alcohol, just means we need to clean out the fuel lines regularily. Sounds good thoughXR6T on alcohol

[Slymeat]

Hell, at the moment a litre of milk costs more than a litre of petrol.

Hate to burst your bubble, but milk always has been more than fuel, I'm contemplating stocking up on cows. How bout we all get together and buy a dairy farm and use the milk money to supplement our fuel costs,

[Guest FatBAt]

Oil is running out and anyone who thinks it isn't has there head in the sand. It is a finite resource. How can it NOT run out. Each year there are more and more cars on the road which in turn compounds the problem.

As far as oil reaching $3 p/ltr, it may do (but) we will not see it as that. The government will spread this over other consumer products so as not to disrupt the transport industry. If you criple that industry think of the bedlam. I have been in the transport industry for 25 years.

To ditto someone elses comment...if you can't afford to run it...sell it.

[Mondie]

Oil is running out and anyone who thinks it isn't has there head in the sand. It is a finite resource. How can it NOT run out. Each year there are more and more cars on the road which in turn compounds the problem.

Of course its running out in the sense that its a finite resource.

However the recoverable rserves are static or actually increasing as technology makes many fields more viable to produce, technology finds undiscovered reserves etc etc.

Oil running out has nothing to do with the current price spike, its all about current supply jitters.

[tupperware]

Oil running out has nothing to do with the current price spike, its all about current supply jitters.

Yeah I agree. If it ever got to the point of low reserves the processing of crude would change to obtain the maximum Jet and Diesel from the stock. Petrol specifications would probably also change with more gas streams blended in to increase the yeild... but that's a long way off. If it was really that bad 25% ethanol would be inforced and the engineers would have to deal with the difficulties of it.

$3 per litre - not likely son.

[turbotom]

Petrol specifications would probably also change with more gas streams blended in to increase the yeild... but that's a long way off.  If it was really that bad 25% ethanol would be inforced and the engineers would have to deal with the difficulties of it.

$3 per litre - not likely son.

There is a fledgling industry in Australia which, along with all the hopeful investors, who will reap the rewards as oil prices climb for whatever reason.

Ethanol is a fuel which can be locally produced in abundance.

It's the processing cost which makes it unviable at present. The government is certainly aware of the need to make this country of ours less dependant on external sources of fuel, and have embraced the idea of alternative renewable fuel sources such as ethanol by providing subsidies to make it competitive.

As the quote from Tupperware states, when it is economically viable to use an alternate fuel source (such as ethanol) the automotive industry will create the appropriate design to continue the industry.

Heck, there was a huge outcry when lead was taken out of fuel.

Everyone was peeved off with the loss of power output even in high performance sports cars. But after 20 years of ongoing research and development, we have engines which NOT only have incredibly more power output per litre, but are also much more fuel efficient.

So my fellow petrol heads.... do NOT despair.

The automotive industry and performance car sector will go on even if we do run out of oil.

[mercturbo]

I just want to know how the environment will look for our kids if we burn up all the remaining oil reserves for the next 30 years, those that think we haven't half stuffed it already will want to retract their head from the sand, you'll be able to grow mangoes in Tassie

[exar]

I just want to know how the environment will look for our kids if we burn up all the remaining oil reserves for the next 30 years, those that think we haven't half stuffed it already will want to retract their head from the sand, you'll be able to grow mangoes in Tassie

Current thinking on global warming seems to be that it is all part of a longer term cycle (longer than our scientific records - but the trends are recorded by nature in various ways), and as it gets warmer, we will have much more fertile land and be better off.

...and I don't see how we can burn off all the oil in 30 years, especially as if it gets scarce prices alone will slow down our useage (btw. the same fear was held in the 60's, and here we are 40 years later with no sign of it running out yet...)

[mercturbo]

I just want to know how the environment will look for our kids if we burn up all the remaining oil reserves for the next 30 years, those that think we haven't half stuffed it already will want to retract their head from the sand, you'll be able to grow mangoes in Tassie

Current thinking on global warming seems to be that it is all part of a longer term cycle (longer than our scientific records - but the trends are recorded by nature in various ways), and as it gets warmer, we will have much more fertile land and be better off.

...and I don't see how we can burn off all the oil in 30 years, especially as if it gets scarce prices alone will slow down our useage (btw. the same fear was held in the 60's, and here we are 40 years later with no sign of it running out yet...)

Hope you are right, for our kids sake

[Turbo6i]

I'm sure wages will increase too