"A new report by the CSIRO has warned the cost of petrol could rise to as high as $8 a litre in the next 10 years." Educated people I would have thought.
Oil from tar sands and oil shale is fine, but it is expensive to produce, more so as carbon trading and caps are introduced. Rate of production, increasing demand and speculation will drive the oil price higher over the long term. Could be $200/barrel + by years end if the middle east explodes.
Siberian oil could potentially be a new "middle east" but that remains to be seen. Geography and climate would add to cost.
"A new report by the CSIRO has warned the cost of petrol could...
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