by kjmclark » Sat 29 Aug 2009, 17:23:54
$this->bbcode_second_pass_quote('pstarr', '')$this->bbcode_second_pass_quote('dunewalker', 'T')he worst presentations of the issue of peak oil I've heard have been on NPR.
Makes sense. Liberals tend to be city people and don't know nothin' about country ways.
Huh??? Since when does peak oil have to do with country ways? Did I miss the joke?
Here's a better interpretation: NPR listeners are usually listening while sitting on their lazy butts driving to and from work. If your customers were addicted to something, would you talk much about that thing going away? Remember, motorists aren't addicted to oil, they're addicted to the cheap oil lifestyle. Oil isn't going away, but cheap oil sure is.
by hironegro » Sat 29 Aug 2009, 17:35:38
$this->bbcode_second_pass_quote('pstarr', '')$this->bbcode_second_pass_quote('dunewalker', 'T')he worst presentations of the issue of peak oil I've heard have been on NPR.
Makes sense. Liberals tend to be city people and don't know nothin' about country ways.
Maybe we should lynch people and drink moonshine to understand wise country wyas.
by DantesPeak » Sun 30 Aug 2009, 00:22:11
$this->bbcode_second_pass_quote('TheDude', 'N')o, that's not just my opinion. Actually I do read what they have to say, but anyway. Courtesy of
Profit from the Peak author Chris Nelder:
Reading Peak Oil Deniers Is a Waste of TimeRegarding reading PO deniers is a waste of time - well, that's mostly true. It's almost laughable four years after peak (conventional) oil we are engaging in a debate with people who think that PO is to come in the future. Frankly to a great extent the PO deniers have made it easier for folks like me to profit from their misdirected forecasts by buying - or shorting - various stocks, industries, exchange traded funds, etc. (I don't trade commodity futures at all).
However in the long run, I find that for the average person it is very difficult to "profit from the peak". Generally while new growth industries, such as alternative energy, may produce a few investment breakthoughs, new technologies have also been associated with investment bubbles and widespread business failures. Moving away from stocks, even the US dollar - and I dare say almost all others - are subject to loss of purchasing power in the post peak world. Therefore cash under the matress is still subject to loss (albeit less dramatically than a stock market decline). That is because relative to everything else, oil and energy in general will become expensive - although most currenices being fiat based, will suffer long term declines anyway. It is unlikely that the interest rate earned will exceed the rate of inflation (excluding oil). Price rises caused by resource constraint are not monetary inflation, and can not be overcome by further easy monetary policies of the world central banks.
The low prices for natural gas in particular relate chiefly to the fact that North American NG is mostly an isolated market, and busines activity as measured by industrial production is down about 10%.
It's already over, now it's just a matter of adjusting.
-

DantesPeak
- Expert

-
- Posts: 6277
- Joined: Sat 23 Oct 2004, 03:00:00
- Location: New Jersey
-
by Auntie_Cipation » Sun 30 Aug 2009, 01:05:42
$this->bbcode_second_pass_quote('shortonsense', '')$this->bbcode_second_pass_quote('kjmclark', ' ') Oil isn't going away, but cheap oil sure is.
Cheap oil has been gone since 1973. Nearly two generations have grown up in the realm of "expensive" oil, and it sure hasn't seemed to cause <fill in your favorite UberDoomer fantasy>.
Basing a scenario on "non cheap oil" ignores the obvious.
Oil may have been even cheaper before the early 70s, but even since then we've still been deep into the realm of cheap oil. Anytime oil is cheap enough to allow people to continue their "happy motoring" lifestyle, as JHK would put it, that's still cheap oil. Maybe it's more than it was (even adjusted for inflation) but all the way through last year, until the credit crisis stepped in, people still earned enough money, generally speaking, to drive long commutes from homes in the suburbs, to recreate using cars and other gas-drinking devices, etc.
One gas is no longer cheap, you'll know -- people will stop driving as much as possible. Trucked-in products will skyrocket in price. People will swap for smaller cars, or motorcycles, scooters, etc. People in cities will return to bicycling, walking, and mass transit.
We're seeing a little of that due to the credit/economic crisis, but at the moment it's not driven much by oil prices.
Just wait.
"... among the ways available in which a man can die, it is a rare and signal distinction to be killed by a leopard."
-- Raymond Dasmann
by shortonsense » Sun 30 Aug 2009, 02:39:36
$this->bbcode_second_pass_quote('Auntie_Cipation', '')$this->bbcode_second_pass_quote('shortonsense', '
')
Cheap oil has been gone since 1973. Nearly two generations have grown up in the realm of "expensive" oil, and it sure hasn't seemed to cause <fill in your favorite UberDoomer fantasy>.
Oil may have been even cheaper before the early 70s, but even since then we've still been deep into the realm of cheap oil.
Not really. The trend of real oil prices since 1973 is actually pretty clear, according to the 2005 Hirsch DOE report anyway. And I'm sure that anyone who was alive last summer and buying fuel for their automobile in America would disagree as well.
Lets not forget recent history, as late as 2005-2006 people like Savinar and Kunstler were screaming about how $40 oil was going to cause <fill in THEIR favorite UberDoomer fantasy>. So were posters at this website. And yet here we are, $70, and everyone seems pretty happy about it, heck, people aren't even using the word Depression anymore to describe the economy.
$this->bbcode_second_pass_quote('Auntie_Cipation', '
') Anytime oil is cheap enough to allow people to continue their "happy motoring" lifestyle, as JHK would put it, that's still cheap oil.
Quite a different measure than the real and nominal prices usually used to figure such things. Besides, it is completely possible to have happy motoring without gasoline, all THAT requires is someone joy riding around suburbia in a safety cage with 3 or 4 wheels, its not dependent on what powers the wheels.
$this->bbcode_second_pass_quote('Auntie_Cipation', '
') Maybe it's more than it was (even adjusted for inflation) but all the way through last year, until the credit crisis stepped in, people still earned enough money, generally speaking, to drive long commutes from homes in the suburbs, to recreate using cars and other gas-drinking devices, etc.
by DantesPeak » Sun 30 Aug 2009, 11:46:19
$this->bbcode_second_pass_quote('shortonsense', '')$this->bbcode_second_pass_quote('DantesPeak', '
')The low prices for natural gas in particular relate chiefly to the fact that North American NG is mostly an isolated market, and busines activity as measured by industrial production is down about 10%.
And it certainly doesn't hurt that 36 years after the American peak in natural gas, we have gone and done it again.
Can you tell me how you arrived at that conclusion?

Marketed Monthly U.S. Natural Gas Production
It's already over, now it's just a matter of adjusting.