 The aa called it VP Day - Victory for Petrol. It was 1950 and Philip Noel-Baker, the minister of fuel and power, had just announced the end of fuel rationing. Imposed in 1939 after the outbreak of the second world war, the abolition of rationing signalled a return to normality after an extraordinary time in history. Now rationing could be about to make a comeback.  an influential cross-party group of MPs last week published a 60-page report calling for the introduction of personal energy quotas as the best way to "radically and rapidly restructure our society" to deal "with the reality of diminishing access to energy".  The report from the all-party parliamentary group on peak oil and gas, comprising 20 MPs from the main parties, is timely. Petrol is selling for a record average of 128p a litre. Crude oil is nearing $100 a barrel. The price of raw materials from iron ore and copper to wheat and sugar is soaring as demand is pushed up by growth in the world's emerging economies.  The parliamentary group's central argument is simple. It believes that global oil production has already passed its peak. an energy crisis is inevitable at some point in the future, and so we should get a system in place now so that, when it does hit, we are already well down the road of shifting away from fossil fuels toward low-carbon alternatives.  "We are running into danger. Energy shortages will occur. We do not know when but the event is undoubted and it is not far distant," the report said.  "There is a real possibility that this will happen before a rationing system is in place. The combination of energy scarcity and the absence of rationing provision has lethal potential and it needs to be corrected without delay."  The heart of the regime advocated is what would be called tradeable energy quotas, or TEQs. Every adult would be allocated a free annual TEQ, which would be made up of energy units based on their carbon intensity. One litre of petrol, for example, would be equal to 2.3 units. a kilowatt hour of household electricity would be 0.2 units.  The free allocation to individuals would comprise 40% of the overall TEQ budget, reflecting the share of emissions accounted for by households.  The remaining 60% would be sold to businesses, industry and government. The proceeds would be recycled into initiatives to accelerate the transition, such as subsidising insulation or providing "carboncoaching" to families and businesses. TEQs would not set a hard cap on energy consumption, but those who use more than their allotted share would have to buy permits sold by companies or individuals who use less.  The overall pool would shrink over the years in line with the government's carbon reduction goals - 80% by 2050. The system would, the report argues, "bring into each individual's own life a direct encounter with the reality of diminishing access to energy" and free the government from having to micromanage the shift.  It's not a new idea. TEQs are in effect personal carbon footprints. They were first discussed in the House of Lords in 2004. David Miliband advocated the idea of a personal carbon account when he was environment secretary.  Luke Bosdet at the aa dismissed it as an "academic's brainwave typically out of touch with reality". He added: "I understand the principle, but the reality is that this would mean making some people choose between driving to work or not having a job at all. They will tell [the report's authors] in no uncertain terms where to stick th 