Given that the IEA (International Energy Agency) chief is warning that no government is prepared for peak oil, the business community might do well to start making preparations of its own. But who should act, and how? When I asked how small businesses will be hit by peak oil, some thought that small business would be at an advantage, while others believed the big guys would leverage political clout and economies of scale to weather the storm. Whatever a businesses size, however, it stands to reason that the better prepared they are, the better off they'll be. Over at Business Green, Chris Skrebowski lays out how businesses can start planning for peak oil—and why it matters:
Looking forward, there is little or no chance of enough reasonably low-cost oil being found and developed to alter the pattern of tightening supply and rising prices, interspersed with periodic busts as high oil prices undermine economic growth. All the indications are that by around 2013 there will be no Opec spare capacity to turn on, insufficient new flows to meet demand and prices will be soaring.
Check out Skrebowski's Peak Oil Consulting for more on how businesses can prepare for what is increasingly looking like a rocky road ahead.