Will it be a LONG hot summer with power outages?

Dien,

Thanks for mentioning the Peak Oil thing.

I'd like to Bust some Myths Held As Fact about oil.

Oil is NOT a Fossil Fuel. It was Not made from large amounts of forest and dinosaurs Melting and percolating to become flammable sludge. Just because some bits old prehistoric fauna and flora may have been found in the sludge doesn't mean they melted to become the sludge.

Coal is solidified oil. Oil comes out of the ground around 90°C. Over time in the cooler outside environment, it hardens first to a gel like substance and then to a harder rock like substance. This is why coal is Black and extremely light weight - oil is black and floats on water

Australia EXPORTS oil to 40+ countries. That being the case, why do Australians pay $1.40+ per liter (around $5.60 per gallon) for the stuff? Not only does Australia export to these places, there are VAST oil reserves and fields south of the Australian Bite and West of the coast of Western Australia. Found by a Mobile Floating Oil Rig whose Sole Job is to move to a location, anchor, drill for oil and then Cap the found oil reserves. (Thanks to my uncle in the oil industry for 20+ years for this info.)

We are told prices are due to Supply and Demand. This is Controlled by the Oil Suppliers in a few ways. By not putting oil rigs onto all the many capped reserves they have found - of which the public knows nothing. And by convincing the public of something called Peak Oil - a phrase coined and theory put forward by a guy who worked at Shell (conflict of interest, don't you think). Once convinced of peak oil, they can slow down production to suit themselves and call it Peak Oil or some such.

If an oil reserve legitimately runs low on oil (pressure) they know they can Rest the reserve for a period of time and it comes good again. Meaning, oil is flowing Into the well from somewhere (from deeper within the Earth).

Did you hear the latest BS from our leader... remove the Goods and Services Tax from our fuel at the pump... but... replace it with an Environment Tax. (How does Tax help the environment?) Reminds me when former leader Fraser put prices up and said it was to Discourage use as we were using too much.

BTW, if the public knew that coal and oil were not fossil fuels, they wouldn't be so easily convinced of the limit of supply and following justification of high prices. There are tens of thousands of people around the planet who work in the industry and know this. Why doesn't the media report on this?

Michael Ross