Today the government of Queensland, Australia, released its taskforce report titled Queensland’s Vulnerability to Rising Oil Prices. The report found that Peak Oil is real, and that preparations are essential:
The Taskforce considered the question of whether and when world production of oil will peak. The range of creditable predictions for a world peak oil situation run from 2005 to 2040, with the mean and standard deviations of all academic and industry predictions being 2013, ± 7. The Taskforce concludes that the overwhelming evidence is that world oil production will peak within the next 10 years.
The report recommends risk mitigation approaches such as reduction in consumption of liquid fossil fuels; alternative fuels, technologies and strategies; and preparation for demographic and regional changes, as travel, work and living habits change in response to rising fuel prices. In regards to the latter, the report recommends new urbanism specifically.
Kelvin Grove Urban Village, a brownfield redevelopment under construction near Brisbane, Queensland. Photo: Queensland Department of Housing