Brace yourself for massive petrol price hikes

The Financial Services Institute in Sydney was told the world's oil fields are producing as much oil as they can. An oil industry expert is predicting oil to reach $150/barrel ... double the current record of $77/Barrel. He states that demand is outstripping supply and may cause wars as the shortages hit the developed world.

Dr Ali Samsam Bakhtiari has also given evidence at the hearing of the Senate Rural and Regional Affairs and Transport References Committee hearing into future oil supplies. (11 July 2006). Read more below ...

Oil production limit reached: (ABC Online)
An international oil industry expert says the limit of global oil production has been reached.

Podcast from PM program on the ABC

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(Transcript available here)

Ali Samsam Bakhtiari was previously interviewed by Mark Colvin on PM - Monday, 9 August , 2004 where he predicted the current situation (Read transcript here)

Peak Oil (ABC Four Corners)
Read the program transcript of Jonathan Holmes' report, "Peak Oil?", broadcast July 10, 2006. This program will be repeated about 11 pm Wednesday 12 July; also on ABC2 digital channel at 7 pm and 9.30 pm Wednesday.



Click image for overview and to access the Broadband edition and the transcript of this Four Corners program.