The Oil Drum | The Economics of Oil, Part II: Peak Oil and the Energy Supply Curve

167 comments on The Economics of Oil, Part II: Peak Oil and the Energy Supply Curve

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Swede on September 13, 2007 - 10:53am

If price rationing would work without any big problems, then what`s the problem with Peak Oil. It would merely mean ever higher price of gasoline, and a lower economic growth rate.
And then the price should force the society to adapt to other solutions with a lower energy use.

I hope he is right there. And perhaps he is. Well i hope he is.

EDIT: If we would solve this with price rationing, then USA with very small gasoline taxes, should have big problems compared with the Europeans who could easily lower already high taxes to mitigate the impact on its citicens.

So now i understand, why USA has chosen the military option.

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SamuM on September 14, 2007 - 1:31am

I agree that price rationing alone may not solve the issue and to think like that would be utterly foolish (reality doesn't follow an economic model, esp. such a broken one).

As for US/gasoline tax/war option, how about UK? They have high gasoline tax as the rest of the EU, but they are still with US in the oil wars.... err... I mean the great generational just war against terrorism (sic)

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Swede on September 14, 2007 - 4:05am

Well, i don´t know why UK is in the war. But i know that Sweden has a military force in northern Afghanistan supposedly for idealistic reasons helping the people of Afghanistan, when they and some other countrys in reality are lured by the US to be a part of the oil war.

EDIT: I hope Sweden as payment will get a share of the oil US is going to steal from the region.

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167 comments on The Economics of Oil, Part II: Peak Oil and the Energy Supply Curve

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“Of all races in an advanced stage of civilization, the American is the least accessible to long views… Always and everywhere in a hurry to get rich, he does not give a thought to remote consequences; he sees only present advantages… He does not remember, he does not feel, he lives in a materialist dream.”

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