This link has been bookmarked by 1 people . It was first bookmarked on 13 Apr 2009, by Energy Net.
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Energy NetArticles in the mainstream press about peak oil are pretty rare these days, but the SMH has one on the subject that never mentions the phrase (and flippantly dismisses Iraqi oil on the way) - Enjoy the cheap petrol, while it lasts.
With demand on the rise, existing wells drying up and a dearth of big discoveries, the oil price is only headed in one direction.
IN July 2008, the oil price hit a record high of $US147 a barrel. In its journey from the lows of 1998 to the highs of last year, many reasons were put forward for its ascent. Explanations included a so-called "war premium" , "a terrorist premium", hurricanes and evil speculators - the list of things and people to blame for the rise in oil prices was long.
As the price rose, calls were made by political leaders and interest groups for oil producers to lift production and for a cut in taxes on oil and petroleum. Accusations of price gouging and profiteering by oil companies and producers soon emerged.
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