Forty Three years have passed, but time stands still in the Waikato. People are thrilled that petrol has dropped from NZ$1,60/litre to NZ$1,37/litre, and are back to driving as much as ever. The suburbs are booming, building ever bigger houses that need ever more natural gas and electricity. Eight local teenagers were racing in a station wagon and crashed it into a power pole. Nothing has changed.
In the real word, Kuwait has peaked and the US Federal Reserve plans to stop reporting M3. New Zealand is suffering serious declines in natural gas production. Electric blackouts are a near certainty within 18 months. Nobody cares. I asked the bankers (all of the commercial banks are foreign owned) about deposit insurance. There is no such thing here.
It is nice that this region is blessed with moderate temperatures and adequate rainfall. It is also fortunate that population densities are lower than most developed places. However, people here are living in a state of peak oil cluelessness and denial equal to Las Vegas, NV or Phoenix, AZ. Human nature just does not allow people to worry about abstract problems I guess. People here are in for a rude awakening.




