[GouvAustr] “However, the most important thing I learned was that, while further analysis needs to be done, this issue is both real and imminent.
“The focus of the report was the concept of peak oil – the point at which maximum world oil production is reached – which is predicted to lead to shortages and consequent significant price increases.
“If nothing changes in our energy mix and demand patterns after that point, we can expect significant liquid fuel price increases, and price increases in those things that are made from oil such as fertilizer and plastics and those things that rely on oil such as agriculture, construction and transport.
“The Taskforce sought to present the most likely time frame for peak oil, to assess its impact on the mining, transport and primary industry sectors, and then recommend options to minimise the impact on Queensland.
“The report concludes that the overwhelming evidence is that world oil production will peak within the next 10 years.