[ClassicSpiderman]

Recently, my earnings have shot up 50% last week because I quit my old job for a higher-paying one. I live in Alberta, Canada and many companies have to pay more in order to compete for labor. And I don't even work in the energy sector. A fry cook at McDonald's can make $16 an hour in this part of the world. Even if I lose my desk job, I can get a high-paying low-skill job because I'm not ashamed about getting my hands dirty.

I bought a house two years ago and I could sell it now at double the price.

I have no doubt that peak oil will negatively impact many people but there will be a huge transfer of wealth towards those who benefit directly or indirectly from high energy prices.

[Novus]

What if the heard is heading off a cliff? It is not always good to be first. If you want to come out ahead rather than dead in the long run than forget about money and move to a sustainable community where you are within walking distance of your food supply.

[ClassicSpiderman]

I believe that peak oil will cause economic collapse--no doubt about it. But for those who live in Alberta, many of them will reap the rewards. Let me tell you more about my living situation:

-I have a fixed rate mortgage. However, by law, these terms are limited to 5 years so when time comes to another 5 year term, interest rates will likely be much higher. This is why I constantly make extra prepayments on my mortgage to shield myself from becoming a victim of higher rates of interest.

-I live in a walkable community in the suburbs. I can literally walk out of my house for 30 seconds and I have access to electronics, stationery, restaurants and grocery stores. I don't have to drive to get everything I need. If I walk for 10 minutes, I can go see a movie at the cinema. Public transport is adequate but it is being stretched by commuters who want to save money on gas. I deliberately took this new job for a European company with a Canadian office so that I can work at night and get a huge bonus for working overnight shifts. And the buses will be almost completely empty when I go to and from work.

At this rate, I think I can retire before I turn 40. I am extremely frugal and I hate debt while everyone else (even those who are well-off here in Alberta) think nothing of carrying tens of thousands of dollars in credit card debt. The only debt I have left is my mortgage. Once that is paid off, I can semi-retire into a leisurely 20-hour a week consulting job.

Now I did buy my house before I became peak oil aware. But I guess I came out lucky on the roll of the dice--I live in prime real estate (many amenities, no 15 minutes of driving required to go to a convenience store, etc) and considering the housing market right now, I got a very good deal.

The last 'bust' that occurred in Alberta was deliberately forced by the federal government (National Energy Program). Even if they tried something like that again, there would be a revolt in Alberta and a majority of the province would VOTE to join the United States.

Alaska will also benefit hugely from peak oil. They are 1/6 of Alberta's population and probably produce as much oil, if not more. The people there pay no taxes and each person receives a divident check every year. The mainland US will suffer a lot. People have been flocking to the big cities to get jobs and many have to commute 1 hour each way to and from work by car. People in the US don't want to move to the inner city because of crime, and if there is less crime in the inner city, they are priced out of the market anyway.

People don't move to the suburbs because they like them. People move there because THEY HAVE TO.

[frankthetank]

I wouldn't get too excited. Its seems a lot of people around here think their backyard is the best thing since sliced bread, but to be honest, i doubt very many places will NOT feel the effects of coming global crisis. Sure you have the oil, but ever wonder how they get that oil (Natural Gas) and what kind of mess it makes? Did you watch the 60MINutes episode on it?

Personally, you couldn't pay me enough to live in that artic tundra... I think its bad enough here! On second thought, i could maybe hack it for June/July/Aug...

[ClassicSpiderman]

$this->bbcode_second_pass_quote('frankthetank', 'I') wouldn't get too excited. Its seems a lot of people around here think their backyard is the best thing since sliced bread, but to be honest, i doubt very many places will NOT feel the effects of coming global crisis.

[deMolay]

Rumors coming out of the bush this spring with the rig hands is something very big and conventional was found in North central Alberta this winter..Royal Dutch Shell a very conservative company just purchased rights to a 100 square mile lease in the same area....Maybe it is going to get better....If you are a tradesman you will get very rich fast....They are calling for Millwrights, Ironworkers, Boilermakers, Pipefitters Welders and E/I Technicians...There have been rumors for 2 years of a conventional strike in that area of the lightest sweetest crude ever found in N.America....