The Oil Drum

38 comments on Nate Hagens on "The Reality Report" with Jason Bradford at Noon EST

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Jason Bradford on November 27, 2007 - 1:58am

Demand destruction appears to be happening in some places already, though perhaps not in our neighborhood. How else could it not be since population has risen for 2 years while oil supply hasn't budged.

It is interesting to ponder what price level would cut use in the U.S., though Stuart has looked at travel data suggesting it may have just begun in the U.S.

I agree fuel is very cheap here, although given the income disparity in the U.S. even these "low" prices are causing low wage earners to cut back in other ways.

Though my circumstances have changed, I try to imagine myself as a college student to understand what it might feel like for the poor. I was really cheap because I had very little money in my bank account. But then again, I didn't have kids and felt sure my family would bale me out if I got in trouble.

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fleam on November 27, 2007 - 2:30pm

The poor in the US are not going to college. They're riding a decrepit bike to their job where they do heavy physical labor for 10-12 hours. then riding home. Eating what prepared food they can ingest before they fall asleep on their plate. A shower generally follows right after work, since they're generally stinky and filthy from the work. If they get any college classes in, it's night classes which are as much a struggle to stay awake as one to get grades. The night class curriculum is generally less thorough than the daytime one, but accelerated so they're learning less stuff, but with a heavier workload. They're wirey and can lift their own bodyweight with ease, after all they do it or close to it all day. They're angry at a deep level, but are not sure why so they supress it.

I speak from personal experience. I try to know what I'm talking about.

This huge sector of the US populace will be the motive force in the coming Revolution. What can I say? Arm up!

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Jason Bradford on November 28, 2007 - 1:01am

Sorry, bit unclear....I was trying to recall what my life was like financially as a college student to understand how increasing gas prices cut into other expenses, not to imply that poor folks are going to college.

I was in great shape in college (wrestling) and am in pretty good shape again (farming manually). I too take my showers in the evening and during the main work season usually fall asleep soon after dinner.

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