Oil’s tipping point has passed, and the economic pain of a flattening supply will trump the environment as a reason to curb the use of fossil fuels, say James Murray and David King, in an article just published in the prestigious journal Nature.
Most kiwis are oblivious to the next global oil shock, which many experts say will occur within 5 years. Even a small decline in world oil production will have a devastating effect on our economy. Oil depletion is rarely discussed in public by politicians, or by mainstream economists or media. This blog is my small effort to probe, raise awareness, encourage informed debate, and look at community responses.