The Oil Drum

Original Story from Monash University Faculty of Engineering: http://www.monash.edu.au/news/newsline/story/1231

A Monash University environmental engineer has warned in a new report that mineral resources are running out, excavation costs are escalating and the environmental costs of mining are devastating.

The world-first report, The Sustainability of Mining in Australia: Key Trends and Their Environmental Implications for the Future, was authored by Monash researcher and lecturer Dr Gavin Mudd in conjunction with the independent Mineral Policy Institute.

Dr Mudd said the statistics were alarming. "On average, 27 tonnes of greenhouse emissions are created to mine a tonne of uranium. That's equivalent to the annual emissions of nine family cars. To mine one kilogram of gold it takes 691,000 litres of water, and it takes 141 kilograms of cyanide to produce a single kilogram of gold.

Dr Marc Faber is a Swiss financier who predicted the Wall Street Crash in 1987. He is well know as the editor and publisher of the Gloom, Boom & Doom Report. Although not exactly an optimist Dr Faber is a widely respected financial analyst.

This video contains very interesting clues on how to prepare financially for Peak Oil.