GDE and Canberra 2020 summit

Speaking today at the Canberra 2020 summit, Alex Pollard, President of ACT Peak Oil, said "The ACT Government's decision to build the GDE with only one lane in each direction is to be welcomed. ACT Peak Oil recognises this decision as a prudent cost saving measure. The daily commute will be uneconomic to most Canberrans within a decade. World oil production is likely to peak and decline imminently. Additional expenditure on the road would have been a waste."

Continuing he said "In the meantime the ACT and Australian Governments should invest in more sustainable mass transit options for all of Canberra. One target developed at today's summit was to increase public transport to 50% of trips within Canberra by 2020."

"Particular urgency is required given that in the next few years oil exporting nations will increasingly retain their oil production for domestic use. Countries like Venezuela, Saudi Arabia and Mexico will export much less."

"Developed nations should anticipate an oil export crisis in the next few years. This will lead to very high prices for petrol, or even fuel rationing."

For more information contact

Alex Pollard

ACT Peak Oil Inc.