Thursday, February 21, 2013

North American oil producers in impossible price squeeze

North American oil producers need to export to keep prices up. But high oil price destroys demand through recession. There is no way out. What is left of cheap oil is depleting quickly. Soon oil products will be rationed by price or fiat.

There is something you can do. Become a free-transit advocate in your town. Contact your favorite civic group and get involved.

For a good understanding of oil and fuel prices, read this article by Chris Nelder:

America’s oil choice: Pay up, or get off | SmartPlanet: "Higher prices may bring more supply, but it will also hasten the nation’s economic contraction, and merely keep it dependent on fuels that will eventually go into global production decline. Peak oil is here, costumed as oil prices that are too high for comfort, yet still not high enough."