R.J. Ruppenthal  @  ChelseaGreen

View All of R.J. Ruppenthal's Posts

UK Energy Secretary: Oil price may double; shocks on the way

Posted on Wednesday, September 29th, 2010 at 1:19 am by R.J. Ruppenthal

With every passing day, another official or major institution comes out with a prediction of imminent peak oil and price shocks. Here's another to add to this growing list. It just confirms what many of us have been preaching about: get ready for a rougher ride ahead. Now is the time to work on your gardening and homesteading skills (yes, even if you live in an apartment or townhouse!). Soon enough, it may be harder to obtain the things we need as readily as we can now, including fresh food. So consider starting a fall or winter garden now: grow some of your own food and source the rest locally!

From the Telegraph: UK Energy Secretary Chris Huhne has ordered his officials to look at the impact of a 1970s-style oil price spike on the British economy. Mr. Huhne said the UK was having to prepare itself for "lots of shocks", forcing the price of a barrel of oil to double, mirroring the volatility last seen in the 1970s.

Read the complete article here: http://www.telegraph.co.uk/news/newstopics/politics/liberaldemocrats/8016774/Liberal-Democrat-Conference-Oil-price-could-double-in-return-to-1970s-style-shocks.html


Leave a Reply