Keyword: peak oil crisis

The Age of Cheap Oil Has Ended

Picture: madaboutasia/Flickr Glenn Ashton - While motorists feel the pain of the recent ascent of the oil price to near record levels, the underlying reality of rising oil prices has profound implications right across society. Barring an unprecedented oil discovery, the world will never again see the return of cheap oil. Oil prices will certainly never return to the levels of the 1990s, or even the first half of the first decade of this century. The rise in oil prices is the harbinger of a major restructuring of modern...

The Oil Crisis and the Search for a New Way of Living

Picture: howstuffworks.com Saliem Fakir - We live in interesting times that promise both peril and opportunity. Things have changed so fast within the span of just a year that it's putting a strain on our ability to adapt. It took five years from 2002-2007 for the oil price to go up by $60/barrel; but in the last 12 months, the price of oil surged by an additional $70/barrel. The surge in oil prices is making life for everybody uncomfortable, as its ripple effects are being felt throughout the global and South African economies. It...