Matthew Simmons, who is known mainly for his book Twilight in the Desert: The Coming Saudi Oil Shock and the World Economy, is in Dubai this week to hobnob over lunch with big names in oil, gas, investments and banking.

While Simmons is the founder of an investment banking practice, what he’s most known for is his stance that peak oil is not only imminent, but upon us. “Price has no impact on slowing demand,” he told Texas Monthly magazine earlier this year. “We’ve seen a stealth growth of 18 million barrels a day, while the demand between the end of 1995 and last week went up tenfold.

Grain farmers will need to harvest record crops every year to meet increasing global food demand and avoid famine, Potash Corp. of Saskatchewan Inc. Chief Executive Officer William Doyle said.

People and livestock are consuming more grain than ever, draining world inventories and increasing the likelihood of shortages, Doyle said yesterday in an interview on Bloomberg Television. Global grain stockpiles fell to about 53 days of supply last year, the lowest level since record-keeping began in 1960, according to the U.S. Department of Agriculture.

What is really catching the attention of Goldman Sachs now is the outlook for agricultural prices. Or as Jeff Currie, head of commodities research at the US bank, says with disarming cheer: “We think we could go into crisis mode in many commodities sectors in the next 12 to 18 months . . . and I would argue that agriculture is key here.”

Now, to some readers of the Financial Times, that observation might seem odd. After all, inhabitants of the western world typically spend far more time worrying about the price of petrol for their car, rather than the price of wheat or corn. And when western investors do think about “commodity shock”, their reference point typically tends to be the 1970s oil crisis.

Global warming this century could trigger a runaway thaw of Greenland’s ice sheet and other abrupt shifts such as a dieback of the Amazon rainforest, scientists said on Monday.

They urged governments to be more aware of “tipping points” in nature, tiny shifts that can bring big and almost always damaging changes such as a melt of Arctic summer sea ice or a collapse of the Indian monsoon.

“Society may be lulled into a false sense of security by smooth projections of global change,” the scientists at British, German and U.S. institutes wrote in a report saying there were many little-understood thresholds in nature.

The costs of food and energy are rising fast. The availability of water is also becoming an issue, from Australia to Africa. The struggle for these three basic commodities – food, energy and water – came up repeatedly in Davos.

Globalisation – in particular the rise of China and India – is driving a lot of these changes. The world oil price has risen by 80 per cent over the past 12 months and – since 2001 – China alone has accounted for about 40 per cent of the increase in oil demand. Global food prices have gone up by about 50 per cent this year. There are short-term reasons for this, such as a drought in Australia and pig disease in China. But the biggest long-term driver of increased prices is growing wealth in China and India.