Natural resources, oil news, mining news, Times Online: “BP to spend $8bn on green energy”

One of the key persuaders for me about PeakOil was the fact that oil companies are not investing in increased production (eg through more refineries etc). They know that there isn’t going to be enough oil to make it worth their while – even at these higher prices. So they are diversifying into other energy sources. Which is a very hopeful phenomenon, especially as it applies to developing energy storage systems. That seems to be the one thing that would make a big difference on the other side of the great dislocation.