It’s a typical day in the Port of Auckland today – Illustrating our massive reliance on the global energy economy that is based on Crude Oil. We have the massive Trans Future 6 parked up and dropping off new cars, trucks and SUV’s at the Captain Cook Wharf, and we have the Awanuia dropping off fuel oil from Marsden (for more shipping activity) at the Wynyard Wharf.
Our economy is more than a slave to the Big Oil industry, our biggest import is Crude Oil and our second biggest one is machinery that runs on Crude Oil products. How are we ever going to get out of this high risk situation? The least we should be doing is:
- Installing 100% renewable electricity
- More electrification of our transportation network
- Using our Natural Gas more efficiently than we are at the moment
- Promoting energy efficiency schemes more aggressively (solar hot water for everyone as a starting point)
FreeNRG4NZ is about pushing New Zealand towards a safer position with regards to the massive global risks associated with our Crude Oil lifestyle. Even if you don’t believe in climate change and / or peak oil, the fact is that these risks are real and as a nation we have our heads burried well and truly in the sand. This recent article in the Guardian is well worth a read and suggests that the oil price is only going to head in one direction – UP.
Oil prices could double by 2022, IMF warned
The International Monetary Fund (IMF) has been warned by its internal research team that there could be a permanent doubling of oil prices in the coming decade with profound implications for global trade.
“This is uncharted territory for the world economy, which has never experienced such prices for more than a few months,” the report warns.
The new IMF “working paper” come as the value of crude on world markets remains at the historically high level of $113 a barrel and just after the International Energy Agency reported that consumption would accelerate for the rest of this year in line with a wider economic recovery.
Undertaken amid mounting concerns about “peak oil”, the IMF study does not presume that there is a constraint on how much oil can be taken out of the ground. It prefers to believe that extraction rates will depend on the price that will be able to be charged for the final product….. [Read More]