Comments on: Well oiled recessions http://blog.greens.org.nz/2008/10/14/well-oiled-recessions/ hopping along the corridors of power Fri, 10 Feb 2012 07:16:29 +0000 hourly 1 http://wordpress.org/?v=3.1.3 By: Kevyn http://blog.greens.org.nz/2008/10/14/well-oiled-recessions/#comment-60727 Kevyn Wed, 15 Oct 2008 14:04:34 +0000 http://blog.greens.org.nz/2008/10/14/well-oiled-recessions/#comment-60727 We spent much of the last 100 years investing in accessible public transport, almost 90,000km of all-weather roads....providing access to millions of uninulated homes. The choice of motive motive power has turned out to be the wrong one but revisiting the early alternatives to the infernal combustion engine will solve that problem - I reckon a Stanley Steamer would be the bees knees. Two out of three ain't bad, frog

We spent much of the last 100 years investing in accessible public transport, almost 90,000km of all-weather roads….providing access to millions of uninulated homes. The choice of motive motive power has turned out to be the wrong one but revisiting the early alternatives to the infernal combustion engine will solve that problem – I reckon a Stanley Steamer would be the bees knees.

Two out of three ain’t bad, frog

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]]> By: dbuckley http://blog.greens.org.nz/2008/10/14/well-oiled-recessions/#comment-60577 dbuckley Tue, 14 Oct 2008 20:30:14 +0000 http://blog.greens.org.nz/2008/10/14/well-oiled-recessions/#comment-60577 The opening line in this article (which I appreciate is a quote) is flawed; it states "The extraordinary rise in oil prices since 2003 has sucked hundreds of billions of dollars out of the US economy" Given that almost all oil is traded in USD, every country other than the USA needs to buy USD from America to purchase their oil. Thus the USA gains far more running the printing presses to issue USD than it does in terms of spending USD for oil. The trading of oil for USD is one of the factors that makes the USD "magic", and allows the USD and thus America to operate in a way that no other country can.

The opening line in this article (which I appreciate is a quote) is flawed; it states “The extraordinary rise in oil prices since 2003 has sucked hundreds of billions of dollars out of the US economy”

Given that almost all oil is traded in USD, every country other than the USA needs to buy USD from America to purchase their oil. Thus the USA gains far more running the printing presses to issue USD than it does in terms of spending USD for oil.

The trading of oil for USD is one of the factors that makes the USD “magic”, and allows the USD and thus America to operate in a way that no other country can.

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]]> By: kahikatea http://blog.greens.org.nz/2008/10/14/well-oiled-recessions/#comment-60550 kahikatea Tue, 14 Oct 2008 08:32:27 +0000 http://blog.greens.org.nz/2008/10/14/well-oiled-recessions/#comment-60550 emmess Says: October 14th, 2008 at 8:25 pm > You fools still on about peak oil. The underlying geology hasn't really changed in the last few months. Oil prices are falling at the moment because demand is falling, not because of any increase in supply. Peak oil happens when supply can't increase no matter how much demand increases, it doesn't predict that prices won't fall when demand falls due to a recession. But the relatively constant supply as oil prices rose dramatically over the last few years is evidence that we're pretty near the peak.

emmess Says:
October 14th, 2008 at 8:25 pm

> You fools still on about peak oil.

The underlying geology hasn’t really changed in the last few months. Oil prices are falling at the moment because demand is falling, not because of any increase in supply.

Peak oil happens when supply can’t increase no matter how much demand increases, it doesn’t predict that prices won’t fall when demand falls due to a recession. But the relatively constant supply as oil prices rose dramatically over the last few years is evidence that we’re pretty near the peak.

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]]> By: emmess http://blog.greens.org.nz/2008/10/14/well-oiled-recessions/#comment-60548 emmess Tue, 14 Oct 2008 08:25:52 +0000 http://blog.greens.org.nz/2008/10/14/well-oiled-recessions/#comment-60548 You fools still on about peak oil. I predicted here a couple of months ago when the price fell below $130 that prices would fall to $60 to $80 in a month or two. Today, I'll go further when the world hits the bottom of the recession, the producers will be facing a glut.

You fools still on about peak oil.
I predicted here a couple of months ago when the price fell below $130 that prices would fall to $60 to $80 in a month or two.
Today, I’ll go further when the world hits the bottom of the recession, the producers will be facing a glut.

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]]> By: wat dabney http://blog.greens.org.nz/2008/10/14/well-oiled-recessions/#comment-60531 wat dabney Tue, 14 Oct 2008 04:42:04 +0000 http://blog.greens.org.nz/2008/10/14/well-oiled-recessions/#comment-60531 Your solution to high oil prices is, er, the vastly more expensive alternatives. Hardly a sound or even sane economic argument.

Your solution to high oil prices is, er, the vastly more expensive alternatives.

Hardly a sound or even sane economic argument.

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