Hoarding is exactly what the government is doing right now by filling the SPR, and frankly it's the best thing that could happen. It drives prices up. High prices encourage demand destruction. They also finance new well development. The hoarded oil gives us a buffer to fall back on once shortages become more prevalent. High prices are what we need in order to adapt to what's coming, and the sooner they happen, the better.
Joined: Aug 23, 2004 Posts: 688 Location: Frost Free in New Zealand
Posted: Sat Oct 16, 2004 11:13 pm Post subject:
Just hoping the bubble doesn't burst in Melbourne untill at least next year
Had my house on the market since mid August but still $10k shy of my price.
If I don't get it by Nov 11th through the agent a neighbour is ready to give me
what I want without having to pay the agent any fees.
Needless to say I haven't mentioned peak oil to him
I hope I didn't sound intemperate...what I mean is:
Perhaps you are seeing a housing bubble out of context...
All other things being equal, your idea is good....but
with the onset of peak oil, the possible devaluaton of the dollar, mounting geopolitical instability, the slow and ever-present lowering of living standards, your idea of home ownership as a way to swoop in and find a bargain may not fit in with what you could be looking at in terms of survival and sustainability...
If you plan to own this home for 30 years, what will happen in 30 years if you believe in peak oil and ultimately peak fossil fuels, and maybe even peak energy? How would the concept of a die off fit in with your plans for home ownership? Will this house be in a sustainable community setting? Could your efforts and money be put towards something else?
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