Peak Oil Effects Rippling Through US Economy  

Posted by Big Gav

GNN has a story (originally from the Christian Science Monitor, who didn't link oil prices to peak oil) about the latest oil price rises rippling through the US economy. Its going to be interesting watching the inflation figures coming out over the next 6 months.

And though prices have eased in recent days, they remain well above $50 a barrel, and many expect them to stay high. So air travelers on international routes are now seeing huge fuel surcharges, the cost of a bunch of grapes is up a few cents, and economists expect to see costs increase on an array of manufactured goods from televisions to toasters.

“The true cost of energy is now being felt more broadly through the entire economy,” says Mark Routt, a senior consultant at Energy Security Analysis, Inc., in Wakefield, Mass.

The reason, according to Mr. Routt, is what he calls the “tale of two economies.” Most consumers focus on gas prices and the impact on their wallets. But diesel, which fuels truckers and some manufacturers, has gone up just as fast, and in some cases, gone higher. Thanks to that competition for consumers, combined with the concurrent growth of cheap imports, most people have so far been sheltered from that impact.

Technorati tags: peak oil

1 comments

Humankind sustainability and improving the World, Society, and its Resources! R1

Yet who can the world trust to be idealistic and moral enough to help all of humanity and the environment, and at the same time, be practical enough to make extremely difficult decisions that can and will harm a great deal of people?

In only 12 years – between 1987 and 1999 – the world’s population increased by 20 percent, from 5 to 6 billion. This growth, in only 12 years – between 1987 and 1999 – the world’s population increased by 20 percent, from 5 to 6 billion. This growth, combined with dramatic increases in per capita resource consumption, contributes to increasingly serious social and environmental problems.

These problems will only worsen over the next 50 years as the projected world population nears 12 billion and developing nations become more industrialized. We are using finite nonrenewable resources at an ever-increasing rate, with little regard for future generations. Facing these facts, we are compelled to ask: are Earth and humankind sustainable?

People, governments and industries worldwide must adopt policies and practices that promote sustainable development.

Increased life expectancies, births to American citizens, and legal and illegal immigration, if continued, will dramatically increase the population of the US in the 21st century. In addition, the number of Americans aged 65 and over is projected to increase from 35 million in 2000 to 78 million in 2050 (Schneider 1999), and the present 4 million American citizens at age 65 will expand to 18 million by 2050. Unfortunately, many demographers believe that these projections are underestimates (Schneider 1999).
The increasing world population and the advancing technology worldwide is causing the accelerated depletion of natural resources and are creating genuine concern for maintaining our and future generations way of life.

The current depletion of fossil fuels is of major concern to world population today.

Any interruption in such commodity will cause a major economic downturn worldwide.

The issue is not to panic or cause panic, but to educate the public and the government the urgency of the impending crises and to take appropriate action to prevent such a catastrophe.

We have the science, knowledge and technology to overcome these impending energy crises.

We should accelerate our investment in research and development of renewable energy and energy efficiency, utilize energy efficient materials and systems to construct any new structures and in remodeling and rehabbing existing structures.

The amount of resources and funds should be a least a trillion dollar, this is a potential crisis of enormous magnitude, and we must utilize those funds wisely and carefully.

If we all pull together, the people the government and the scientific community, we can overcome these potential crises and enhance our living on earth. We must cut the political bickering and look at what is good for our country, with no hidden agenda. We must stay unified. We shall prevail.

In addition all we have to do is show the corporate world the financial benefit they can derive from such investment in those technology and we will see them all running to join the task of renewable energy at an affordable cost.

Jay Draiman

PS

What if humankind continues its present unsustainable practices for the remainder of the 21st century? What if nature’s laws stop the exponential growth of the human population and its concomitant destruction of natural capital and ecosystem services? If humankind continues unsustainable practices until it finds the answers to these last two ‘what ifs,’ this collapse will demonstrate that the human mind was an evolutionary failure. One hopes that reason guided by evidence, compassion, and ethics will make these two ‘what ifs’ merely speculative visions.

But, what augurs well for the future is that people are taking cognizance of what matters to the very future of humankind –
a sustainable and just world.

Be careful in what portfolio you invest in, some of those funds may end up in the hands of terrorists who want to kill you and your family.

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