Peak olive oil  

Posted by Big Gav

The Economist has a look at the European olive oil crisis, with Russia now having a stranglehold over supplies - Peak olive oil.

PEAK-oil theorists, who claim that oil supplies cannot keep rising to meet global demand, have long been dismissed as scaremongers. But in one area they are being proven right. It is becoming clear that reserves of olive oil will peak in the coming decade, as climate change wipes out most of the groves in the Mediterranean, the main production zone. The likes of Turkey will struggle to make up supply. Russia, however, expects to profit handsomely: its steppes, freed of permafrost, will soon host vast olive groves; a series of pipelines will send extra-virgin supplies westwards. Yet not all are happy. A Russian deal to pipe oil directly to Germany has caused dismay in central European countries that will be bypassed, potentially leaving salads undressed. On Thursday April 1st several leaders in the region released a statement dismissing the German move as the worst sort of “pal for oil joke”.

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