UK Companies Want Government To Prepare For Peak Oil

A group of leading UK businesses has called on the government to make plans to protect the country in the event of Peak Oil.

Peak oil will be that moment when worldwide oil production reaches it's absolute maximum, after which it will begin to decline. It is of major importance because, with demand for oil set to increase for the foreseeable future, Peak Oil, or even the prospect of it, would trigger massive, worldwide, inflationary effects. It has the potential to cripple nations, especially those dependant on oil.

Little wonder then that these companies, which include Kingfisher, Stagecoach and the Virgin Group, are concerned that the government has some sort of plan. They have produced this recent report in the wake of the Gulf oil spill, warning that it may have brought forward Peak Oil and we could all be feeling the effects as early as 2015. They say we should speed up our switch to more sustainable fuels as a matter urgency.