<DrumBeat: May 20, 2006The Oil DrumA gentle cough for the Washington Post>
<DrumBeat: May 20, 2006DrumBeatDrumBeat: May 22, 2006>

85 comments on DrumBeat: May 21, 2006

Comments can no longer be added to this story.

odograph on May 21, 2006 - 10:53am Permalink | Subthread | Parent | Comments top
I'm feeling pretty good about peak oil response, even as solo drivers in their large SUVs look over at me disdainfully as I walk, or bike.

I'm optimistic because I think the central question has been answered: will people respond, or will they remain in denial?

We are seeing responses wall to wall.  Now, some of those responses are stupid ("E85 Everywhere") but I'll take 'em.  I figure the stupid ideas will drop out of their own accord.  They are a little wasted energy, but there is your invisible hand, and creative destruction, in action.  Heck, a few weeks ago commentators here were maligning the invisible hand for its inaction, and now it is off the stick:

Mobilization ...

A new index tracking the performance of a portfolio of US alternative energy stocks is set to be launched on Friday, among the first to focus on the relatively young and fast-growing sector.

The launch comes as high oil prices, geopolitical uncertainty and worries about climate change are generating growing investor interest in non-hydrocarbon based energy businesses.

0
Comments can no longer be added to this story.
RussianCrude on May 21, 2006 - 11:37am Permalink | Subthread | Parent | Comments top

"What people are seeing at their gasoline pumps reflects the global economy in which we live," President George W. Bush said last week. "I think we need . . . to encourage conservation, to expand domestic production and to develop alternative sources of energy like ethanol."

Oh my! Dubya used the C word!

0
Comments can no longer be added to this story.
jdeely on May 21, 2006 - 6:08pm Permalink | Subthread | Parent | Comments top
Odograph...

I agree... I too am surprised by the amount of response. I thought it would take $5/gallon gas before we saw this.

Hopefully, gas prices will stay high enough in the near term to get people to make more permanent investments and changes.

If our politicians had any guts they would enact an adjustable gas tax that would keep gasoline at a minimum of $3.50 and then increase this amount by 25 cents a year till it hit $5.00 a gallon.  If this happened, we would see huge investments in alternatives.

0
Comments can no longer be added to this story.
Dot on May 21, 2006 - 6:28pm Permalink | Subthread | Parent | Comments top
Yes, there has been a lot of response.

But, if oil prices stay in the $60-$70 range for the next 6 months, I think you'll see this issue drop completely off the radar, as people become used to it.

You have to remember that for US citizens, oil is still really really cheap at $70 a barrel.

0
Comments can no longer be added to this story.
jdeely on May 21, 2006 - 11:18pm Permalink | Subthread | Parent | Comments top
I saw this on EIA Web site... just goes to show that gasoline  prices need to get a lot higher for real demand reduction.
http://tonto.eia.doe.gov/oog/info/twip/twip.asp


0
Comments can no longer be added to this story.