Daniel Donahoo, a fellow at the thinktank OzProspect, recently wrote an article in New Matilda on our use of oil (the title is "Our Greatest Addiction" – alas you need to pay to view it). In the spirit of the Ehrlich-Simon bet, Daniel and I have now placed two bets on oil prices. He believes that:
- Petrol will cost more than A$3.50 per litre on 1/1/2007
- Petrol will cost more than A$5.80 per litre (in 2004 dollars) on 1/1/2025.