ACT Peak Oil

An editorial opinion from ACT Peak Oil Vice President Jenny Goldie published in The Canberra Times.

Australia's own 'peak oil'

Resources and energy minister Martin Ferguson has warned the country's growing dependence on imported energy could reach critical proportions, speaking at the Australian Petroleum Production and Exploration Association conference in Perth.

“With only about a decade of known oil resources remaining at today's production rates, Australia is looking down the barrel of a $25bn trade deficit in petroleum products by 2015,” Mr Ferguson said.