Stuart,as far as I know ,we don't provide 98% of our oil.We actually have an annual deficit for oil of some $20 billion.
That aside,our Govts lie to us constantly.They should have seen this coming.Why did kevin take the subsidy off gas conversions.Why did they not plan for such a crisis?This will put many businesses into liquidation and many jobs lost.We have all this coal,oil and gas but aparently it does not belong to us.

What needs to happen is that we find alternatives that are cheaper or our economy will go into recession.Don't believe all this BS of it had to happen.There is not a shortage of oil,there is an intentional shortage of production.Climate change is being used as an excuse to justify the high cost of energy,which falls neatly into the plans of OPEC,fuel producers and our Govts.

CHinese day traders are speculating on the worlds resources
WHY?
is because their own stock market was going into a melt down [last year] [so they installed a day trading tax][that cut their speculation down [in the china stock market][but only moved them into the world stovck market's, so as to avoid paying tax]

This has the affect of moving the china middle class into our stock market as day trading speculators [with huge numbers day trading on petrol ,corn, rice [you name it ]

but their weight of numbers has distorted our [the worlds] resources and metals markets.

THE fuel increase is partly because they [with only a tiny percentage 'day trading by far outnumber the fewer organisational day traders [we by and large arnt speculating on the markets [we get bankers and pension funds to do it for us ]

its a pure numbers game
CHINA has the numbers
the numbers needed to distort the market

[as witnessed by the olympic flame ,[when the chinese outnumbered the tibetan protesters only a few weeks ago]

This morning i heard on the bbc ,that chinese protesters were protesting [on mass] at a function where the dali-lama was talking[screaming out en mass stop-lying]

[the weight of numbers calling them selves tibetans , woke me up to what those organised numbers could be doing in this 'resources boom']

via their day trading

[ie only by invading the true tibetans ,were they able to pass themselves off as tibetans]
only in day trading are they simply book numbers in the day trading books

hell i dont care
figure it out yourselves]

Hello Stuart,
First thing you are wrong about 98% of our own oil.
We have about 55% and falling at about 4% per year.
So maybe it is about 50% now.

There is nothing the government can do about it.
Just jump in your car and use it while it is still cheap.
While the NYMEX price is US$135 because we get it from Singapore
we pay the TAPIS price of about US$148 per barrel.

Ludwig & Chainsmoker, I agree what is needed is an increase in the
tax so long as that tax is spent on public transport and freight railways.

I also saw that London system but did you pick up that it was run
on natural gas ? A bad move for the UK because they are reliant on
Russia for a depleting supply of gas.

Cuphandle; Oh dear, you are in for a let down.
I suggest you read what the retired oil field engineers are saying.
Most of those employed have to toe the line or write under
false names.

Iraq/Afghanistan War.

hi for those who said i was wrong please state and show reference to where i can find it.

I have posted the website that you will find this information from.

http://www.appea.com.au/index.php?option=com_frontpage&Itemid=1

The Australian Petroleum Production & Exploration Association represents the collective interest of the upstream oil and gas industry in Australia. APPEA member companies produce around 98 per cent of Australia’s oil and gas.

I also do appologise as my time limit was up for posting so had to wait.

Stuart Ulrich
Independent

PEAK OIL IS A LIE
http://www.prisonplanet.com/Pages/Oct05/041005oil.htm
just google it up yourself [its a delusion]

then there are alternatives like algae
google up oil from algae
Microalgae have much faster growth-rates than terrestrial crops. The oil yield per unit area of algae is estimated to be 5,000 to 20,000 gallons per acre, per year
(4.6 to 18.4 l/m2 per year);

this is 7 to 30 times greater than the next best crop, Chinese tallow (699 gallons)

It is an undeniable fact that most of our oil comes not from fossel but from algae[checkout the first link near the end.

Then we come to the alternatives [like the joe feul cell ,that allows the petro combustion vehicle to run on hh [or browns gas ,made from water [google up the joe fuel cell ,
made from stainless steel vehicles can be retro fitted with a joe uel cell in half an hour for a few hundred dollars [then no more feul costs
[all that is needed it to advance the timming forward 25 degrees[because browns gas implodes [not explodes]

im sick of this peak oil farce
the last oil ''short-age' was due to a fuel shortfall of only 3 percent [google that up]
then we get the fact no new refineries are being built [even the arabs dont have a refinery[they need to buy their petrochemical from dickkk cheeneys company ,[that they resell to their own people for a few cents a gallen ,couldnt find out how much that cost [nor how much money halli-burton recieves for this diss-service