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 Guest writes "In this article we look at how just because developed economies are not suffering like they did during the 1970s that the oil crisis has not already begun. The final oil crisis has begun, silent to us, but dangerously there.
More at
Power Switch"
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Posted on Saturday, August 27 @ 08:07:17 PDT by Leanan |
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Average Score: 5
Votes: 2
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Re: The Silent Oil Crisis (Score: 1)
by ElijahJones on Saturday, August 27 @ 09:57:07 PDT
(User Info ) | | In a perfect market prices shoudl rise as demand goes above supply at just the level needed to curb consumption and bring demand to its senses, this helps the market to avoid rationing. This is not a perfect market, people are taking profits based upon speculation and consumer fears and gas addiction. Where I live gas went up to $2.69 once we got over $63, it's now been flirting with $70 and gas is still at $2.69. Why? People started bitching at the gas station attendants who signalled to their bosses that higher prices are causing problems. I doubt that many people in the pipeline are losing money these days. This article does point out that some oil producing countries are losing and some poorer nations are already feeling the effect of high prices. He mentions the airlines still have historically low rates, well remember the airlines were just directly involved in 9/11 and most of the barely escaped bankruptcy, I think that explains why they are reluctant to raise prices too much. If oil keeps going up though they will have to just to remain solvent. Or maybe we should fund a 200 billion dollar federal bailout of the Airline Industry. Oops we already spent that money somewhere else! |
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Re: The Silent Oil Crisis (Score: 1)
by JoeGreene on Saturday, August 27 @ 10:44:28 PDT
(User Info ) | ElijahJones,
Time will reveal that oil cannot be categorized like other wants; other commodities. No, oil (energy) is the life sustainer. As such, it not just another want that balances with supply and demand. When hydrocarbons - our chosen source - peak, the planets sustainer will as well. At first it picks on the luxuries and works its way down to base: food (it's bible 101 for those who can read deeper into the lines). -jg |
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Re: The Silent Oil Crisis (Score: 1)
by Jack (spam@bitbucket.com) on Saturday, August 27 @ 12:13:51 PDT
(User Info ) | As the Emperor said in Star Wars: "Everything is proceeding as I have forseen." |
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