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Page added on January 24, 2011

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Petrol rationing looms

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A report by the Lean Economy Connection in association with the 20 MP strong All Party Parliamentary Group on Peak Oil (APPGOPO) has warned that rationing will be needed to deal with energy shortages as well as helping us achieve our green targets.

The report, ‘TEQs (Tradable Energy Quotas): A Policy Framework for Peak Oil and Climate Change‘ cites the International Agency’s 2008 World Energy Outlook statement that ‘current global trends in energy supply and consumption are patently unsustainable – environmentally, economically and socially’.

It also refers to the Industry Taskforce on Peak Oil and Energy Security’s report ‘The Oil Crunch’, which concluded that global oil production will be unlikely to grow after 2013. With Ofgems warnings in 2010 of shortages and breaks in supply.

The report’s favoured instrument for dealing with the imminent shortages as well as combating carbon emissions is the use of Tradable Energy Quotas (TEQ). And the time-scale of before 2020 seems to be the call.

TEQs are put forward as the solution in that they ‘ … would reduce our reliance on fossil fuels fast, guarantee that we meet our agreed emissions obligations and empower communities to address the challenges of our times, allowing us to move into a happier, thriving future‘.

A form of TEQs are used already in the EU with the Emissions Trading Scheme (ETS), which covers about 12,000 large facilities. But this latest report wants to extend this principle across the country for use by individuals and organisations alike. When you buy fuel you surrender some of your quota, your ration. That includes all types of fuel from domestic to transport.

The ‘people’ would get about 40% of the quotas by entitlement, with the total emissions allowed each year being set by the Committee on Climate Change. The outline procedure is shown here.

Economic Voice

2 Comments on "Petrol rationing looms"

  1. Kenz300 on Tue, 25th Jan 2011 1:11 am 

    Bring on the electric, hybrid and flex-fuel vehicles. Their acceptance by the public will sky rocket upward if fuel prices rise and their is rationing of fuel.

    Those with electric vehicles will pass by the fueling stations and the lines waiting to fill up.

  2. Ian Cooper on Tue, 25th Jan 2011 3:52 am 

    The electricity grid is already straining in many areas of the country. Where is the electricity going to come from to fuel all these electric vehicles?

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