Keynote speaker at NZ Petroleum Conference confirms peak oil and warns of economic collapse

Farouk Al-Kasim. a Norwegian oil expert, was a invited by the NZ government to be a keynote speaker at the NZ Petroleum Conference.  But in an interview on Radio NZ with Kim Hill, he rained on the government's parade big time, stating that we have already reached global peak oil.  He also said that higher oil prices and oil scarcity will mean global recession and possibly economic collapse.

Read more »

Peak Oil Could Halve NZ's Economy - says Report

Two Canterbury University academics have analysed the impact of fuel restraint (peak oil) on New Zealand's economy.

Their alarming conclusion is that with just 10% less fuel available, New Zealand's economy would shrink by around  $115 billion in just five years. If a 10% fuel restraint continued for 20 years, New Zealand economy would shrink by $412 billion compared to a business as usual scenario. 

Read more »