What’s the key geostrategic vector over the coming decades? The economic system acts like the planet is a magic pudding – but at some point there will be crumbs, and a hell of a lot of ravenous party poopers. Do you reckon Secretary Schlesinger took the decision to speak publicly about peak oil lightly? Sir Philip Baxter was quite clear about the future he could see.

The broad thesis of the Club of Rome’s Limits to Growth is surely correct – and it will act like a tilt on the pinball game of geostrategy. It won’t be the ball or paddles but it will be real. The frightening reality will lead to all sorts of aberrant geostrategic manoeuvring. It’s only a matter of time – hard to see it not biting hard by mid century.

Don’t forget, China implemented a very difficult one child policy for this very reason. The PLA is onto it – and so should we be. Hopefully the human race can appreciate the folly of chasing unlimited growth and be good to each other – in the interim, Australia needs to develop a nuclear deterrent, along with credible conventional capability such as SSNs.