Thursday October 05, 2006

The markets react to peak oil

peakoil.com -> fromthewilderness.com :

Recent price swings – both up and down – have been predicted as a part of the Peak Oil scenario for years. The bumpy plateau is triggered as civilization and the world economy attempt to cope with ever-rising prices and shortages. This is certainly understood by world leaders, and it may account for a large part of the increased hoarding of fuel stocks which is becoming commonplace. Of course, economists boastfully mislabel this hoarding as increased inventory.

Falling prices should not be embraced as positive, or an indication that Peak Oil is any less real today than it was when M. King Hubert first explained it. Price drops will only further our collective delusion, offer a false sense of security, and delay necessary preparations for the Post-Peak society.

See also :

1. China's first strategic oil reserve facility to be ready in August
2. Asean mulls joint oil stockpile

(2006-10-05 22:05:35 SGT) [Energy] Permalink

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