Monday, October 22, 2007

Finally, someone else uses the "R" word.

For about the last six months, I have been saying that, inevitably, the US government will be forced to Ration gasoline. I think I said it here, and I have certainly said it frequently on peak oil forums. The government has to have the gasoline - you don't. And they will not wait until it is "scarce." They will only wait until it's getting too expensive for their operating budgets - which is a lot sooner than later, especially with the dollar falling like a rock.

So I was edified, if not happy, to see that "R" word used today in Kunstler's report concerning the ASPO Conference in Houston. (For those of you not into urban planning, you can skip over Kunstler's diatribe against Houston's downtown area and start reading about midway, towards the bottom, when his report of the actual conference picks up.

Be advised, too, that sometimes the language is less then exemplary in Kunstler's articles. If you have a delicate disposition, his webpage might not be your cup of tea.

October 22, 2007
Peak Universe

...Matt Simmons, the leading investment banker to the oil industry, who has worked tirelessly to lift public awareness of Peak Oil, also raised the specter of shortages, telling the audience that market allocation problems in the near future would almost certainly induce “hoarding behavior” among the public that would cripple the economy, lead to enforced rationing, and shock the nation...

And one other thing - if these guys are saying this kind of stuff in public now, then things are probably a lot closer to happening than you imagine, class.

And speaking of the dollar falling like a rock...

IMF chief warns dollar may suffer 'abrupt fall'
by Veronica Smith Mon Oct 22, 3:27 PM ET

WASHINGTON (AFP) - The head of the International Monetary Fund, Rodrigo Rato, warned Monday of a potential "abrupt fall" in the US dollar that could roil the global economy...

You don't even want to know how fast the cash in your bank account can become worthless, class. Yes, it can happen here.

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