The reality of peak oil will see properties classified into two types in the near future, according to Simon Fraser University professor Anthony Perl.
One will be properties from which owners can get to work, leisure activities, and services predominantly by car. The other offers alternatives to the automobile such as public transit, biking, and walking.
“The one that is accessible without a car will have a higher value,” Perl told the Georgia Straight in a telephone interview during which the director of SFU’s urban studies program tracked changes in oil prices with a ticker he keeps on his desk.
A few minutes into the conversation, oil futures on the New York Mercantile Exchange rose 50 cents a barrel to $125.98. It was $110 a few weeks ago, Perl noted. Before he hung up, the price was up to $126.11 a barrel.
Straight.com