CSIRO, Australia's premier scientific institution, is predicting petrol will cost $10 /litre within a decade. Reading the report [PDF], the prediction is based on a peak oil scenario with slow technological response (a rapid switch to other fuels would result in much lower costs); interestingly, international oil prices are already leading their peak scenario (seen on page 15) by about two years:
Meanwhile, the New Zealand government is still investing billions in roads which in all likelihood none of us will be able to afford to drive on in just a few years. Talk about a head in the sand approach.
