Oil price rise: Bracing for a global meltdown

REDAY FOR THE WORST: Iver Lofving is convinced the world is running out of oil.

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Skowhegan (Maine): If there's anything in the United States of America that's taking more news space than the presidential race, it's global oil prices.

With oil prices soaring, there's a group of people in the US who are bracing for a global meltdown.

Iver Lofving is convinced the world is running out of oil. He's spent the last 10 years getting ready for that day. He is a mainstream survivalist, chopping his own wood, installing solar panels, growing vegetables and even driving a solar-powered-car. All of it geared to becoming self-sufficient.

"Call me crazy, but I'm crazy like a fox, this house makes half its own energy.

Two thirds the hot water, half the heat, a small part of the electricity, half the gasoline," Lofving says.

Lofving is a high school teacher who lives in Skowhegan, Maine roughly two hours north of Portland.

He believes a world driven by cheap oil is coming to an end.

'How does peak oil play a role in the changes you're making in your life?'

"Well, peak oil has everything to do with it!" he says.

Peak oil is the point when global oil production peaks and then goes down. The remaining oil supply is limited and will be harder to get at and that means fewer barrels a day. Some oil experts say that day is here; others predict it's 20 to 30 years away.

Unlike some survivalists, Lofving has not started raising chickens or stockpiling a years worth of food and ammunition. But he is thinking of a bigger garden, and maybe a small boat - just in case.