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TEQ Report

We are pleased to announce the publication of the second All Party Parliamentary Group on Peak Oil (APPGOPO) report, 'Tradable Energy Quotas (TEQs): A Policy Framework for Peak Oil and Climate Change' co-written with The Lean Economy Connection. The report urges the government to begin planning for the introduction of a system of energy rationing to mitigate against oil price increases, fuel poverty and fuel scarcity, and to reduce carbon emissions.

Read the report here: http://www.appgopo.org.uk/documents/APPGOPO_TEQs_2009.pdf

John Hemming MP, Chairman of APPGOPO, said that the UK government remains unprepared for peak oil. "The evidence is now strong that peak oil is either upon us or just over the horizon. Even the International Energy Agency accepts that an oil supply crunch seems to be on its way. The UK government should urgently consider the TEQs system, as I believe it's the only comprehensive and fair way to tackle climate change and the coming oil crisis."

"The alternative to rationing by tradeable quotas is to hold back consumption through massive price increases. This gives economic instability, unemployment and fuel poverty. We need to plan for a system to give some stability in what will soon be a sellers market for fossil fuels rather than a buyers market."

"It is important that we plan for the technology required soon. To work effectively this will need some international agreement to reduce demand across the world. It is, therefore, important that the technology is put in place to track fossil fuel usage together with cash payments. It is entirely possible for people to do this using credit and debit cards, but only if the technology is planned for soon."