[wisconsin_cur]

Link

$this->bbcode_second_pass_quote('', '�')��According to normal economic theory, and the history of oil, rising prices have two major effects,” said Fatih Birol, the chief economist at the International Energy Agency, which advises industrialized countries. “They reduce demand and they induce oil supplies. Not this time.”

[alokin]

I've just read how much fuel costs in the US - 0.61 EUR / liter, that's just ridiculous low! How will you get someone to save with this low price? The people may swap their cars for smaller ones but they might not catch the bus or bike.

[wisconsin_cur]

$this->bbcode_second_pass_quote('alokin', 'I')'ve just read how much fuel costs in the US - 0.61 EUR / liter, that's just ridiculous low! How will you get someone to save with this low price? The people may swap their cars for smaller ones but they might not catch the bus or bike.

[TheDude]

This is already out of date, they should update it weekly:



So in Baghdad they're only paying a measly €.76. If things get bad enough you could justify going there to stock up...no wait, they've thought of that already.

Regarding Pemex's crash, this is the month over month decline in US imports from Mexico since last September, up to Feb:

1,200 1,180 1,200 1,042 950 761

Like watching beer pour out of a mug. Forget 2014, at 200 kbpm we'll be done by late summer. Better turn up the tap on that Bakken, boys! 'Course when tens of millions flee north looking for prosperity we might have trouble focusing on those crappy flow rates.

[TheDude]

Top o' the mornin', Cur. See we're both early risers (posted simultaneously). Actually I'm up all night contemplating bad news...

[Cloud9]

My European friends, look at our map. It is the distance that hurts us along with a low density of population. In small towns we have no mass transit. Not many can bike or hike twenty miles one way.

[dorlomin]

$this->bbcode_second_pass_quote('Cloud9', ' ')Not many can bike or hike twenty miles one way.

[kjmclark]

$this->bbcode_second_pass_quote('Cloud9', 'M')y European friends, look at our map. It is the distance that hurts us along with a low density of population. In small towns we have no mass transit. Not many can bike or hike twenty miles one way.

[seahorse]

This debate about "low" US fuel prices compared to European prices is getting old. We rehash this every 3 months it seems. One big difference between the US and Europe is they have free health care, which Americans don't. I would gladly pay European prices if I didn't have to pay for private health insurance, and if we had a good rail system like the Europeans.

[wisconsin_cur]

And to bring us back to the spirit of the article linked in the OP, the mainstream is getting on board with the fact that we seem to be reaching peak flow rates and nothing is going to change that.

This hurts you wherever you live in the world unless you are self-sufficient living in the Shetlands or something. High taxes will not save you, finger pointing will not make it go away. Yesterday was the day to start making other arrangements. Today is the day make your peace with the world around you and assume the position.

[Drake]

$this->bbcode_second_pass_quote('seahorse', 'T')his debate about "low" US fuel prices compared to European prices is getting old. We rehash this every 3 months it seems. One big difference between the US and Europe is they have free health care, which Americans don't. I would gladly pay European prices if I didn't have to pay for private health insurance, and if we had a good rail system like the Europeans.

[Revi]

Getting back to the article. This is really scary. Why isn't anyone doing anything? I think this article shows that most people are where we were 6 or 7 years ago. They are still in the shock and denial phase.

The NYTimes must have just realized what's going on.

Heaven help us when the masses figure out what's happening, or when the denial turns to anger, the next step in the process.

[seahorse]

Revi,

I agree this is the most pessimistic MSM article to appear in a long while.

Drake,

I will confess that I am woefully ignorant about how Europe funds their healthcare, just that, private health insurance is expensive here. Further, in my area, we have no trains (my kids have never ridden in one for example); we have no public transport at all.

[SpringCreekFarm]

This kind of media release shows that the shit has been released and well on it's way to the fan.

[jdumars]

Seriously.

If this is not the proverbial shot over the bow, I don't know what is.

[TheDude]

seahorse - Wiki has the basics on Universal health care,if you want to read up. Often it's a blend of public/private. We in the States can always simulate life in the EU by paying for private and pretending it's built into our pump prices. Well sort of. I'm sure someone's done a cost comparison study.

[eastbay]

TheDude,

You're right. The article was quite out of date regarding PEMEX exports to the USA. Pointing out the sudden fall in Mexican oil exports to the USA would have iced it for most readers. Maybe the NYT simply didn't want to scare people... heh.

[TheDude]

Ack, actually went to the table covering only PADD 1...my bad, having a rough time with fine print lately. Here's the recent monthly totals for Mexico:

43,612 43,917 47,422 40,968 40,526 38,484

Year ago Feb it was 42,207. 2006 was 52,959! which was a step up from 2005. Average declines are about 5KBO, thus the 2014 number you hear. Writing's on the wall.

[whereagles]

$this->bbcode_second_pass_quote('Revi', 'H')eaven help us when the masses figure out what's happening, or when the denial turns to anger, the next step in the process.

[BigTex]

No one will get the significance of the article, or very few anyway.

This is America! We don't do limits.

The REAL isssue that most people are probably several realizations from understanding is that we are on a doom trajectory no matter what happens:

1. If we get population growth under control, we are going to have rising levels of affluence aggravating resource constraints.

2. If we don't get population growth under control, we are going to aggravate resource constraints.

Either way, the REAL problem is not too little oil, it's too many people wanting to live too well off of a finite production capacity.

THAT'S the way people should be looking at it.

As usual, though, people are talking about how to facilitate more growth, rather than talking about how to reduce the need for more growth.