72 comments on Why has the price of gas gone up?
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72 comments on Why has the price of gas gone up?
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Capitalism is based on speculation
Speculation is signaling that
there
is a problem in the oil market.
Wednesday last was the key.
Even at $70 the bbl, crude inventory
still dropped.
In Olden times circa March 2003,
supply would overwhelm the markets
at a certain price, The markets
just had to discover what that price
was.
Today, in Copper, as well as oil,
there is no price that will bring this supply to market.
It is time to remind everyone of my long standing prediction that there will be physical shortages of gasoline this driving season. Gas lines and closed gas stations.
The reason events are about to move fast regarding all petroleum supply is that the market will turn a potential geological-based peak oil scenario to a virtual cut off of supply. Extraction cannot keep going at some slowly reduced rate, mostly because the refining and marketing sectors cannot operate under negative-growth conditions very long. Enter petrocollapse and the unraveling of the global growth economy. Chaos and futile attempts at social control will only delay the time we all get together and resume growing food locally and meeting our other needs from our bioregions.
No more fruit from Chile or techno-toys from China.
http://www.culturechange.org/cms/index.php?option=com_content&task=view&id=45&Itemid=2
The above from Jan Lundberg-yes the one from Lundberg Survey
The US Empire will go to war before
admitting that Supply can no longer meet demand.
The usual scapegoats are being trotted out.
James
Why not? Oil will become more valuble as the supply shrinks, there will be plenty of recources to empty oil wells while unneded parts of the infrastructure defaults.
"Extraction cannot keep going at some slowly reduced rate, mostly because the refining and marketing sectors cannot operate under negative-growth conditions very long."
Why Not? I'm genuinely curious as to why you think this. Unfortunately its just one unsubstantiated assertion supported by another unsubstantiated assertion, and doesnt explain anything.
Why cannot refining and marketing operate under 'negative growth conditions' for very long? A recession (aka negative growth conditions) has never meant the end of things as far as I can remmember. How do you characterise ' not very long'?
COuld you flesh that that out as far an explanation, please.
First-What does "Negative Growth"(NG) mean?
It's a late 20th C term for "Contracting Economy"
Of course no one in the Main Stream Media
wants to say this, in fact will be carried off the
stage in a strait jacket before the term "Contracting
Economy " is uttered.
Second-Watch a financial channel or read the WSJ
and make a point of noting how many times you
see/hear the word "growth".
Third-My Point-for 100 years the US and World Economy
has been operating in the Age of Oil.
We only get growth from our growing use of oil.
No growth, then no investment, no investment, no returns.
In fact the only returns on investment will come from hoarding the commodity in question, hence Lundberg's
petroCollapse.
James