[ExI] EP and Peak oil

[BillK]

On Sun, Mar 30, 2008 at 8:45 PM, John Winters wrote:
>  It is irrelevant whether peak oil already happened, will happen soon,
>  or will happen in the distant future.  The supply-demand ratio is the
>  relevant factor.  As China and India take to the roads, oil prices
>  will sky rocket.  Already truck drivers are rumored to be planning a
>  strike:
>
>  http://www.snopes.com/politics/gasoline/strike.asp
>
>  Can you imagine what that will do to the economy?
>


Gasoline prices are already about three times higher in the UK (mostly
due to tax) and our economy is doing just fine, thanks.

The price of everything just ratchets upwards. If wages don't keep up,
then you'll end up a bit poorer. Then people will buy more economical
cars that do more miles per gallon, or just drive less. In the UK the
over 60s get free travel on local buses (and trains in the London
area).

'Free' in the sense that the cost is paid by other tax-paying members
of society. But it reduces traffic congestion and fuel usage by
persuading some over 60s to travel by bus instead of car.


BillK