biffvernon wrote:After we've bought our petrol the money does then get spent on other stuff by whoever recieved the petro-dollars. While we're riding the oil peak plateau economic activity has never been higher.
Hey, uncle Ahmed! Look what I bought with my pocket money this week!!
Exactly. The bloke down my lane works for the company that makes the engines and earns so much that his wife can keep horses so she needs to buy hay that grows in my field so I get the money in the end.
There is no doubt that we are on the peak but the worrying thing is production has not declined, just demand is phenomonal. Once production declines heavily (only months away) then TS really does hit the fan.
This price is going to bring pain, real pain to the economic situation but there will be a good 4 month lag.
I wouldn't be surprised if there's a correction within the next few days - as long as there isn't any bad news. I wouldn't be surprised if a lot of speculators have been selling out of gold etc. and piling into oil futures. There is a lot of hot money looking for a 'safe' home in the current turmoil.
Tracy P wrote:....and so scary. I feel woefully unprepared!!
We all are unprepared. There is no way for an individual to prepare for events like these. Individuals generally don't matter very much. We depend on societies, and has done so since the stone age and before that.
Why do I feel that the oil price is like one of those blood pressure gauges in the movies that keeps rising until it bursts out of the top? Scene from "Carry on Dying"?
Mitch wrote:Wonder if the bookies would give us 100:1 on $150.00 by end July? Might be worth putting a tenner on? (doubt THEY would have any clue regarding P.O.)
Hey great idea, could pay for a few more solar panels!!!!
