Grim future for fuel
Global oil supplies could become “extremely tight” within five years time.
Dr Laurie Sparke, who recently retired after a career at GMH, says diesel fuel supplies for transport will be hit hard.
“The growing use of diesel fuel is of concern because it will require increased imports,” he says.
Sparke says Australia needs to secure its future fuel resources, citing LPG and natural gas as potential fuel sources.
LPG and natural gas have the greatest potential to insulate the country from any future global oil shocks, he says.
“World energy consumption has outstripped world supply,” Sparke says.
“Australia will not have access to enough oil in the future. To secure a sustainable future we need to remove our dependency on oil. The opportunity to utilise natural gas in a way that has less environmental impact than oil has is a compelling one.”
Australia produces less than half the oil it needs but has vast reserves of gas that could secure our transport future.
“Most importantly, gas can replace the shortfall of oil in the near future,” he says.
Motorists face a worse situation than the oil crises of the 1970s and '80s, featuring rationing and disruption of oil supplies.
“Australia needs to be concerned about what fuel sources will be available in the short term,” Sparke says.
The International Energy Agency predicts global oil supplies could become “extremely tight” within five years, being felt disproportionately in Australia.
Comments