by Tanada » Wed 07 Oct 2009, 07:11:36
$this->bbcode_second_pass_quote('mos6507', '
')If this is what peak oil doom feels like, it's a yawner. This is not to mock peak oil, but to perhaps challenge people's assumptions that what we have now comprises peak oil doomTM. To me it's nothing but a gentle prelude.
No kidding and I agree totally with that sentiment. The biggest problem PO.com has IMO is that the uber doomers have always been shouting form the rooftops THE END IS NIGH!! THE END IS NIGH!!!
While this may feel important all it really does is lead the poorly informed to either dismiss them as nut cases or fall into line and repeat the meme without actually understanding just what the situation is.
IMO with our economy barely crawling along $70.00 oil is a very bad sign. You can say BAU hasn't changed much all you like, and perhaps objectively you have a point, however with so much more income going for energy costs it does create a drag on the consumer driven economy. Five short years ago gasoline and diesel fuel in the USA cost roughly half of what they cost now. Just because people got used to paying more for fuel does not mean they changed their driving habits, most people drive just as much now as they did then and they use just as inefficient of a vehicle to do so.
So right there was a body blow to the economy, a lot of discretionary spending got shifted to energy spending. Add in the Housing bubble. Then add in the Banking bubble. Then hit the system with high unemployment further driving down discretionary spending. Next step, hit the system with high inflation due to Federal money printing.
I don't see a happy ending for this any time soon, and I do believe that if we were on the plateau we are working our way off of it quickly because of the lack of investment in the oil business.