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Summit to calm rising fears over peak oil

amcluesent
amcluesent Posts: 9,425 Forumite
in Debate House Prices & the Economy
Lord Hunt calls UK industrialists together to discuss government response to any early onset of decline in global oil production

"Lord Hunt, the energy minister, is to meet industrialists in London tomorrow in a bid to calm mounting fears about the disruption that could follow a sudden shortage of oil supplies.

In a significant policy shift, the government has agreed to undertake more work on whether the UK needs to take action to avoid the massive dislocation that could be caused by the early onset of "peak oil" – the point that marks the start of terminal decline in global oil production."

FACT - Just a whisper to start with, so as not to frighten the sheeple. But those in power know the next 10 years are going to see an unstoppable decline in living standards as the collapse of the West becomes clear.
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Comments

  • Asheron
    Asheron Posts: 1,229 Forumite
    Firstly peak oil is a fraud, the whole reason we invaded Iraq was to restrict the oil to control price and next it will be Iran.

    When we attack Iran, and we will, the price of fuel will double over night.

    Also just to let you all know fuel prices haven't gone up! That's right! The £ has devalued :)
    As an investor, you know that any kind of investment opportunity has its risks, and investing in Stocks or Precious Metals is highly speculative. All of the content I post is for informational purposes only.
  • Really2
    Really2 Posts: 12,397 Forumite
    10,000 Posts Combo Breaker
    Asheron wrote: »
    Firstly peak oil is a fraud, the whole reason we invaded Iraq was to restrict the oil to control price and next it will be Iran.

    When we attack Iran, and we will, the price of fuel will double over night.

    Also just to let you all know fuel prices haven't gone up! That's right! The £ has devalued :)
    Oil
    chart?chart_primary_ticker=ICEEUR:BRN&chart_time_period=12_month&canvas_colour=000000&primary_chart_colour=cc0000&use_transparency=0&plot_colour=ffffff&cp_line_colour=000099&margin_left=35&margin_bottom=20&margin_right=20&time_24hr=1&tiny_chart=1&tiny_month_view=1&logo_strength=light&y_axis_left=1&x_axis_plain=1&cp_line=1&cp_line_style=dotline&charting_freq=1_minute&co_dimension^width=629&co_dimension^height=190
    £ VS $
    chart?chart_primary_ticker=FX^GBP:USD&chart_time_period=12_month&canvas_colour=000000&primary_chart_colour=cc0000&use_transparency=0&plot_colour=ffffff&cp_line_colour=000099&margin_left=35&margin_bottom=20&margin_right=20&time_24hr=1&tiny_chart=1&tiny_month_view=1&logo_strength=light&y_axis_left=1&x_axis_plain=1&cp_line=1&cp_line_style=dotline&charting_freq=1_minute&co_dimension^width=629&co_dimension^height=190

    If you had siad that the start of last week oill 12 months ago was $46 a Barrel.

    So the rises are not just down to the £.
  • Rinoa
    Rinoa Posts: 2,701 Forumite
    Asheron wrote: »
    Firstly peak oil is a fraud, the whole reason we invaded Iraq was to restrict the oil to control price and next it will be Iran.

    Hmmm, surely we should have attacked kuwait then ~ they have a much smaller army.
    If I don't reply to your post,
    you're probably on my ignore list.
  • michaels
    michaels Posts: 29,229 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Check out shale gas - looks like the hydro-carbon economy may have a while to run yet...
    I think....
  • StevieJ
    StevieJ Posts: 20,174 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    michaels wrote: »
    Check out shale gas - looks like the hydro-carbon economy may have a while to run yet...

    Seems to be the big story of the moment.
    'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher
  • Graham_Devon
    Graham_Devon Posts: 58,560 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    What happened over the weekend? The BP garage up the road where I work has now got both unleaded and diesel at 118.9!
  • lemonjelly
    lemonjelly Posts: 8,014 Forumite
    1,000 Posts Combo Breaker Mortgage-free Glee!
    Graham_Devon wrote: »
    What happened over the weekend? The BP garage up the road where I work has now got both unleaded and diesel at 118.9!

    http://forums.moneysavingexpert.com/showthread.html?p=31011937#post31011937

    I don't consider myself to be a doom mongerer or anything. But the price of fuel at the pumps is, to me getting more & more excessive.

    I have noticeably been driving less in recent weeks. Moreso as I am aware of the impending increase in april. & I also know of a couple of longer journeys I'm going to have to make in April too.

    I wonder how/if it'll affect people going out over easter?

    It's enough to make me gloom.gif
    It's getting harder & harder to keep the government in the manner to which they have become accustomed.
  • Graham_Devon
    Graham_Devon Posts: 58,560 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    Petrol prices had a big effect on inflation last time they started shooting up like this, and hitting records.

    They raised interest rates in response if I remember rightly to combat this inflation.

    Last time round however, we could raise and lower rates. This time round, it's a little more tricky.
  • Harry_Powell
    Harry_Powell Posts: 2,089 Forumite
    There is an easy way to combat inflation caused by petrol - take some of the tax off. Before the usual suspects get all throthy again on here, let's take a moment to remember that approximately 71% of the price of petrol is tax.
    "I can hear you whisperin', children, so I know you're down there. I can feel myself gettin' awful mad. I'm out of patience, children. I'm coming to find you now." - Harry Powell, Night of the Hunter, 1955.
  • Graham_Devon
    Graham_Devon Posts: 58,560 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    edited 22 March 2010 at 1:47PM
    Harry_Powell wrote: »
    There is an easy way to combat inflation caused by petrol - take some of the tax off. Before we get all throthy again on here, let's take a moment to remember that approximately 71% of the price of petrol is tax.

    Problem with taking the tax off is that we have a deficit to reduce.

    I'm against so much tax on one product, but there is no real way they can take it off.

    BTW, joining a thread, with your paragraph throwing a vague insult at vague people isn't needed. But if you feel it is, at least get it right. :p The throthy lot will be upset :D
This discussion has been closed.
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