Did anyone else here the guy on the radio 4 from "Petroleum Review" talking about the surge in oil prices and the premium on diesel?
He was saying that we may have already hit the 'peak' in oil supply for low sulphur 'light' quality crude oil, which is the one in demand for deisel production.
He then went on to say that 'peak oil' for heavy high sulphur crude could come as early as 2011 and the true 'peak oil' in terms of total supply could be 2013.
Scary stuff. For those who haven't heard the term 'peak oil' is the point at which we can no longer find enough oil reserves to match demand. From that point onward the amount of oil production will start to reduce we run out of economically viable sources altogether. So from here on in demand will outstrip supply and if it doesn't reduce that disparity will grow ever bigger.
It's what I was talking about above
http://en.wikipedia.org/wiki/Peak_oil
http://blogs.wsj.com/environmentalca...o/?mod=WSJBlog
Very scary indeed. What was the plot of 'mad max' again?