Just this week Scottish Power have announced gas and electricity price increases of 19% and 10% respectively with the threat that other suppliers may follow suit.
Gas price increases in summer?
Typically this is when demand is at its lowest and historically prices have fallen. If energy costs are spiraling, what then of food? Again, only this week a UN report warns that global food costs could increase by 30% – on top of 37% increases in many foods just in the last 12 months alone!
Oil prices are hovering around $115 per barrel having touched $125 earlier this year after a warning from the EIA that global production of oil has peaked. After years of denial the EIA has finally admitted that, unless some as yet undiscovered mega-field magically appears…
the amount of oil available every year from now on – will be less than the year before.
There have been many books written on the possible outcomes following peak oil with visions ranging from hellish Mad Max to a utopian Star Trek. One thing is for sure, as conventional oil stocks deplete the oil co’s will focus their attention on harder to extract (aka more environmentally destructive) oil locked in the Canadian tar sands or perhaps under the polar regions.
Let’s not forget climate change. While the economic downturn has been taking center stage the environmental picture has not improved. In 2010 CO2 emissions leaped to over 30 GIGATONNES.
Many experts now agree the goal of preventing a 2 degree rise in global temperatures is almost impossible.
Climate change is real and its already here. Weather patterns are becoming more erratic, every year the rate at which “record weather events” occurs appears to rising… record heat, record cold, record drought, record flooding… its there if you go and look for it.
The lack of fresh water is now also becoming a major issue.. this time outside of Africa. From the USA to China fresh water rivers are drying up – often as warming is causing a reduction in the annual snow fall on the great mountain ranges from which the rivers flow. Pressure on fresh water supplies then feeds directly into food prices.
All this as the worlds population moves towards 7 billion souls.
The signs and portents that have been present for years are now screaming at us to change.