Peak Oil, as seen by the ABC's Four Corners


We've suggested you have a peek at the movie of comedian Robert Newman to see his irreverent take on Peak Oil. Now we share another multimedia presentation on the topic with you. Four Corners is the premier investigative journalism program on Australian television. Their report on Peak Oil aired recently, and can now be seen online in its entirety, by those blessed with broadband. At the time the show was recorded Australians were paying around $1.35 AUD per litre for fuel, Brits the equivalent of $2.20/ltr and Americans $1.00/ltr. Many reasons are offered by the various stakeholders as to why the price of oil is currently so high, but most agree that demand is greater than current supply. Four Corners summarises the many viewpoints with a simple statement that, "The last year in which the world discovered more new oil than it used was 1981." Worth 45 mins of your time. ::Four Corners.The reason for the photo of the glasses of stout? They were used to demonstrate that the easy first half of the vast North Sea oil fields has already been extracted. The second half will be much more expensive to obtain because it is fragmented in location and now lacks the pressure to bring it easily to the surface. These days Britain does not even drill enough to meet its own needs, and is back to importing, when a few years ago it was an exporter.