22 July 2008

I like the way David Lamb put it:

"We were deeply concerned that there may not be enough oil to go around,'' he said.

Having a strong economy would not protect Australia from a global oil shortage.

"It's like having a pocket full of money and going into a shop with empty shelves.

"Our lifestyle is totally dependent on cheap oil.'' Report
Likewise, Singaporeans ought to ask themselves, what can the billions in our reserves do for us in a post-peak world with empty shelves? At some point in the future, well within my lifetime, delivery of oil and food are going to stop coming in. Won't it be better to now spend the money on sustainability projects like solar energy and urban farming to safeguard our future? Why spend substantial amounts of money investing in banks with toxic debt investments like Citigroup and UBS? What in the world is the government thinking? This is regrettable and deplorable.