How American and British towns and cities are preparing for peak oil

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How American and British towns and cities are preparing for peak oil

Peak oil is the point in time when the maximum rate of global petroleum extraction is reached, after which the rate of production enters terminal decline. This is expected to happen at the midpoint of depletion, that is, when only half the oil that will ever be produced has been consumed, and the other half is still underground.

When oil production starts to decline, the economic impacts will be dramatic. Economic growth is largely dependent upon a growing oil supply. The International Energy Agency has forecast oil demand to expand at a rate of 1.3% annually over the period 2004-2030. This is likely to lead to large spikes in the oil price along with the price of gas and electricity which are closely linked on financial markets.

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British local authorities are now starting to consider the potential impact of peak oil on their services and communities. The preparations they have made are as follows:  

Woking Borough Council in Surrey has achieved major cuts in the energy consumption and greenhouse gas emissions of its buildings largely by converting to combined heat and power (CHP), that is, small, local gas fired power stations, which provide both electricity and heats to buildings nearby. CHP is highly efficient because it exploits the large amounts of heat that are normally wasted in electricity generation to provide space heating and hot ...

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