[Peakoil-announce] Interim Senate oil inquiry report

[Mike Hettinger]

Worth noting the comments:

http://www.aph.gov.au/SENATE/committee/rrat_ctte/oil_supply/int_report/c
02.htm

Comment
2.15      The Committee recognised that there is a convergence of
concern about increasing atmospheric concentrations of greenhouse gases
and declining global oil supplies. It was understood that solving the
transport fuel challenge without reference to reducing greenhouse gas
emissions would be a flawed response. The Committee determined to
identify transport fuel solutions that were also consistent with the
objective of reducing emissions.

2.16      Peak oil proponents have criticised official estimates of
future oil supply with detailed and plausible arguments. The Committee
is not aware of any official agency publications which attempt to rebut
the peak oil arguments point by point in similar detail.

2.17      In the Committee's view the possibility of a peak of
conventional oil production before 2030, even if it is no more than a
possibility, should be a matter of concern. Exactly when it occurs
(which is very uncertain) is not the important point. Australia should
be planning for it now, as Sweden is doing with its plan to be oil free
by 2020. [20]

2.18      In the Committee's view it is clear that gas will be the most
significant transition fuel option for Australia, and as such a national
reserve should be established.

2.19      Most official economic forecasts seem to regard the 'long
term' as extending to 2030, and are silent about the future after then.
In view of the enormous changes that will be needed to move to a future
which is less dependent on conventional oil, the Committee regards this
as inadequate. Longer term planning is needed. 

2.20      The 2005 'Hirsch report' for the US Department of Energy
argues that peak oil has the potential to cause dramatically higher oil
prices and protracted economic hardship, and that this is a problem
'unlike any yet faced by modern industrial society.' It argues that
timely, aggressive mitigation initiatives will be needed and that timing
this is a 'classic risk management problem': 

Prudent risk management requires the planning and implementation of
mitigation well before peaking. Early mitigation will almost certainly
be less expensive that delayed mitigation.[21]

2.21      It should be noted that peak oil proponents do not claim that
peak oil is the cause of present high oil prices. If the oil price
declines in the next few years, as ABARE predicts, this does not dispose
of peak oil concerns. Peak oil is a different and much longer term
concern.




-----Original Message-----
From: peakoil-announce-bounces+mike=mikehettinger.com at act-peakoil.org
[mailto:peakoil-announce-bounces+mike=mikehettinger.com at act-peakoil.org]
On Behalf Of Alex P
Sent: Saturday, 16 September 2006 3:05 PM
To: peakoil-announce at act-peakoil.org
Subject: [Peakoil-announce] Interim Senate oil inquiry report


The interim report of the Senate inquiry into Australia's oil supply is
now available. The report acknowledges Peak Oil:

http://www.aph.gov.au/SENATE/committee/rrat_ctte/oil_supply/int_report/i
ndex.htm

ACT Peak Oil made a submission and appeared before the inquiry.

Alex
O4O4873828

ACT Peak Oil
http://act-peakoil.org


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