Our way of life?

• After peaking:

• Oil Production will begin to decline (or may stay on a plateau for a while, depending on demand)‏

• Demand is likely to continue to increase globally, though it may be reduced locally by changes in behaviour, recession or rationing.

• The price of oil is likely to rise, perhaps by sharp increases followed by reductions which do not quite restore the previous position.

• Prices dependent on oil are likely to rise, businesses may become unprofitable, priorities may change. Growth – constant and taken for granted - is unlikely to be sustainable

• What is your First Response? What effects do you feel would follow?