$100 oil spells recession

19 comments on “$100 oil spells recession ”

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1. nzP 1

   11 March 2011 at 1:45 pm

   The words of politicians mean nothing, but you have to be just a little worried about the “let them eat cake” statement here:

   Hon BILL ENGLISH: People are pretty sensible. When they see prices going up, they start thinking about whether they want to continue with their energy-intensive business or lifestyle. As it happens, over the years New Zealand, as I understand it, has become less energy-intensive in its production, which is a trend that will probably continue if oil prices keep going up.

   I had no idea the sensation of hunger was a business function I could opt out of. If food prices go up because of increased fuel costs, if I can’t afford to get to work, just stop “the lifestyle”.

   Note to self: restructure my energy intensive body to run on air and find money tree.

   I think retardation must be a pre-requisite for entering parliament.
   • Kevyn Miller 1.1

     11 March 2011 at 2:33 pm

     nzP you need to stop wallowing in self pity and start excersing your self determination. You don’t have to be a slave to the food industry. Revolt! Grow your own. Escape the tyrany and walk to work, at least until Key privatises the footpaths. I think retardation must be a pre-requisite for entering a supermarket carpark.
     • Bored 1.1.1

       11 March 2011 at 2:51 pm

       Kevyn, I am highly admiring of your approach: have actually been growing / catching mine own food for ages. One of the drawbacks is that some things just have to be processed like olive oil etc so its off ot the shop.

       Another issue is limited home garden space. To resolve this use of the footpath and the surrounding long acre as extended gardening space has much to recommend it. Guerilla gardening as an act of civil disobediance, and a challenge to the hegemony of the food processing industry, and perchance a serendipitous gift to your fellow citizen.
       • uke 1.1.1.1

         11 March 2011 at 3:05 pm

         Bring on the allottments.
2. Bored 2

   11 March 2011 at 1:55 pm

   Interesting Marty: it is at moments like this I await the usual denial responders to swing into action: techno cornucopia will save us, or the Rapture will happen so we dont need to care. A giant mutant Space Goat coated in huge quantities of crude oil will crash into the Arizona desert…..

   US$100 plus oil signifies the end of growth across the whole world economy, its because supply has peaked and its only down from here on. To help people come to grips with this from a psychological viewpoint I recommend they listen to Kathy McMahon, a clinical psychologist who doctors to this issue.

   http://www.ecoshock.net/eshock10/ES_101029_Show_LoFi.mp3
3. Lanthanide 3

   11 March 2011 at 2:03 pm

   “Bill’s smart enough to see the problem. He’s just not quite at the point where he thinks he ought to stop being part of it and start being part of the solution.”

   If you’re not a part of the solution, there’s always money to be made in prolonging the problem.
   • Bored 3.1

     11 March 2011 at 2:17 pm

     Listen to the link I gave: its not a problem to which there is a solution. Its a dilemna, consequently no solution.

     You are right about making money, it may not be worth much however, and there might be nothing to spend it on.
4. exit lane 4

   11 March 2011 at 2:16 pm

   The real kicker from higher oil prices is that they are cutting into our discretionary spending. Figures just done by the NZ Parliamentary Research Unit calculate between $23 million to $33 million of household spending is lost for each $US1 rise in the oil price. That’s over $1 billion NZ effectively disappeared from Kiwi’s wallets since last October. It gets much worse if the NZ dollar drops against the US.

   Also in just 4 months the oil price rises have already sliced close to $2 billion off our GDP. If oil goes to US$160 oil then around $NZ4 billion will be lost. Even more if the NZ dollar falls against the US dollar. see…..
   http://bit.ly/gbd0kl

   Why has National (and the previous government) not foreseen the rise in oil prices? – there have been warnings for years that an oil crunch is coming – see this report – again from from our Parliament Research Unit http://bit.ly/htqwGx

   And why is there no plan to lower our dependence on imported oil? Its draining billions from our economy and wallets. Bill English’s “leave it to the market” answer to Gareth Hughe’s question is ideology trumping good economic management – pure and simple. But where is Labour on this? not a peep so far.
5. Bored 5

   11 March 2011 at 2:21 pm

   Labour is still entrenched in the same economic paradigm that National are: growth is the only game in their vocabulary. that may be because offering any realsitic response is electoral suicide: it is saying that the party is over as opposed to an open invitation to the party to suck free of charge at the trough. We all want to go to the party, and there will be tears if we cant go.
   • RedLogix 5.1

     11 March 2011 at 2:46 pm

     Sadly you are right.

     Call it the Top Gear effect if you will.
   • Colonial Viper 5.2

     11 March 2011 at 4:51 pm

     Don’t worry mate, I’m doing what I can to ‘un-entrench’ them. Tough though. Spoke to an MP not long ago who said he didn’t believe that people would have to stop driving cars any time in the foreseeable future.
6. Afewknowthetruth 6

   11 March 2011 at 4:58 pm

   Ignorance and denial are the mainstays of mainstream culture. That is why catastrophic collapse of western society via peak oil and the unravelling of fiat monetary systems is inevitable…. and coming soon.

   It is difficult for a man to understand something when his postion and salary are dependent on not understanding it.
   • Blighty 6.1

     11 March 2011 at 6:00 pm

     but how does English’s salary depend on not understanding it?

     captcha: discover
     • Afewknowthetruth 6.1.1

       11 March 2011 at 11:53 pm

       His job is to promote business as usual in the face of reality. Peak Oil means game over: bad for ‘the market’.
7. gnomic 7

   11 March 2011 at 11:37 pm

   What’s wrong with you people? Get with the programme. Er electric cars, er hydrogen economy, er nuclear reactors using thorium, er . . . . Don’t be so negative, growth is axiomatic, it can never cease. Don’t you understand?

   As for Blinglish and the genius called Joyce, perhaps they have made too many promises to roading companies to stop now. I expect more and more blacktop seems like a solution, the only answer they understand. It does employ people and plant after all. For now at any rate. Asphalt runs out alongside oil I think?

   And the sheople do love their cars – they won’t be happy when they have to take their feet off the accelerator.

   Hmmm – are we allowed to speak of retardation pejoratively, I thought this was non PC?
   • uke 7.1

     12 March 2011 at 6:03 pm

     “…growth is axiomatic…”

     Just what I think when I look at the grass on the back lawn.
8. quasimodo 8

   12 March 2011 at 5:09 pm

   http://en.wikipedia.org/wiki/2011_Saudi_Arabian_protests

Links to post

1. Draco T Bastard: posted on 11 March 2011 at 2:06 am
2. Denise Andrew: posted on 11 March 2011 at 2:16 am

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