Comments on: Why we’re not reliving the 70’s oil crisis http://blogs.earthsky.org/lindsaypatterson/human-world/0122123/why-were-not-reliving-the-70s-oil-crisis/ Learning to love science. Thu, 28 Aug 2008 01:21:51 +0000 http://wordpress.org/?v=2.5.1 By: Mathieu Pard http://blogs.earthsky.org/lindsaypatterson/human-world/0122123/why-were-not-reliving-the-70s-oil-crisis/#comment-4760 Mathieu Pard Mon, 11 Aug 2008 02:19:34 +0000 http://blogs.earthsky.org/lindsaypatterson/human-world/0122123/why-were-not-reliving-the-70s-oil-crisis/#comment-4760 Why We Need Energy Alternative We are in the midst of an energy crisis. The price of a gallon of gas is sky high and there is a great deal of trouble-brewing in the Middle East, Iraq and Iran and other areas. These problems have made it clear to many United States citizens that we have an oil-driven economy. www.green-alternative.info Why We Need Energy Alternative

We are in the midst of an energy crisis. The price of a gallon of gas is sky high and there is a great deal of trouble-brewing in the Middle East, Iraq and Iran and other areas. These problems have made it clear to many United States citizens that we have an oil-driven economy.

http://www.green-alternative.info

]]> By: cost of things in 70s http://blogs.earthsky.org/lindsaypatterson/human-world/0122123/why-were-not-reliving-the-70s-oil-crisis/#comment-4279 cost of things in 70s Mon, 05 May 2008 15:36:09 +0000 http://blogs.earthsky.org/lindsaypatterson/human-world/0122123/why-were-not-reliving-the-70s-oil-crisis/#comment-4279 [...] clauses are largely gone. And workers?? bargaining position is much weaker than in the 1970s. ...http://blogs.earthsky.org/lindsaypatterson/human-world/0122123/why-were-not-reliving-the-70s-oil-cri..."From Consumer Alert: the Value of Time." Consumers' Research Mag06/1998 - Brief Article - Credit [...] [...] clauses are largely gone. And workers?? bargaining position is much weaker than in the 1970s. …http://blogs.earthsky.org/lindsaypatterson/human-world/0122123/why-were-not-reliving-the-70s-oil-cri…”From Consumer Alert: the Value of Time.” Consumers’ Research Mag06/1998 - Brief Article - Credit [...]

]]> By: Dover Sole http://blogs.earthsky.org/lindsaypatterson/human-world/0122123/why-were-not-reliving-the-70s-oil-crisis/#comment-3155 Dover Sole Thu, 31 Jan 2008 23:12:40 +0000 http://blogs.earthsky.org/lindsaypatterson/human-world/0122123/why-were-not-reliving-the-70s-oil-crisis/#comment-3155 What made the gas lines of the '70's was a an atrificial shortage of supply -- the Arab Embargo. The arabs quickly learned that they needed our money more than they needed their oil, so they developed a strategy of sucking the money out of the US by creating a global monopoly of suppliers, holding down supply to drive up the price. Voila, oil at $90 bucks a barrel. Of course the price of oil will continue to rise. There were 21 million new cars sold to First Time Car Buyers (these folks had never owned a car before in their lives) in China, India, and Eastern Europe in 2006. The numbers are not in for 2007 yet, expect them to be higher -- these new cars run on gas too, and what is driving price is the constant rising demand. An earlier poster was correct, we are willing to pay the extra cost as long as we can have our drug, and pass the extra expense on to others. The '70's was an artifical eduction of supply, we had no gas at the pumps because we had no oil to refine. Dover What made the gas lines of the ’70’s was a an atrificial shortage of supply — the Arab Embargo. The arabs quickly learned that they needed our money more than they needed their oil, so they developed a strategy of sucking the money out of the US by creating a global monopoly of suppliers, holding down supply to drive up the price. Voila, oil at $90 bucks a barrel.

Of course the price of oil will continue to rise. There were 21 million new cars sold to First Time Car Buyers (these folks had never owned a car before in their lives) in China, India, and Eastern Europe in 2006. The numbers are not in for 2007 yet, expect them to be higher — these new cars run on gas too, and what is driving price is the constant rising demand.

An earlier poster was correct, we are willing to pay the extra cost as long as we can have our drug, and pass the extra expense on to others. The ’70’s was an artifical eduction of supply, we had no gas at the pumps because we had no oil to refine.

Dover

]]> By: a p garcia http://blogs.earthsky.org/lindsaypatterson/human-world/0122123/why-were-not-reliving-the-70s-oil-crisis/#comment-3128 a p garcia Tue, 29 Jan 2008 02:09:18 +0000 http://blogs.earthsky.org/lindsaypatterson/human-world/0122123/why-were-not-reliving-the-70s-oil-crisis/#comment-3128 I've lived this age. I almost remember it like it was yesterday. You forgot to mention the hostages taken by Iran. For the US the main culprit was Jimmy Carter and his policies during this period turned me from a Kennedy Democrat to a Reagan Republician and gave this country double digit inflation. The curent list of canidates for The Prendency haven't learned from History and want to repeat the same mistakes Carter made. I’ve lived this age. I almost remember it like it was yesterday. You forgot to mention the hostages taken by Iran. For the US the main culprit was Jimmy Carter and his policies during this period turned me from a Kennedy Democrat to a Reagan Republician and gave this country double digit inflation. The curent list of canidates for The Prendency haven’t learned from History and want to repeat the same mistakes Carter made.

]]> By: nimble2 http://blogs.earthsky.org/lindsaypatterson/human-world/0122123/why-were-not-reliving-the-70s-oil-crisis/#comment-3074 nimble2 Thu, 24 Jan 2008 04:19:20 +0000 http://blogs.earthsky.org/lindsaypatterson/human-world/0122123/why-were-not-reliving-the-70s-oil-crisis/#comment-3074 Gold's value always remains the same. Only the value of currency to buy Gold changes. So what's the value of your currency today? Gold’s value always remains the same.
Only the value of currency to buy Gold changes.
So what’s the value of your currency today?

]]> By: G. R. L. Cowan, boron combustion fan http://blogs.earthsky.org/lindsaypatterson/human-world/0122123/why-were-not-reliving-the-70s-oil-crisis/#comment-3067 G. R. L. Cowan, boron combustion fan Wed, 23 Jan 2008 18:14:12 +0000 http://blogs.earthsky.org/lindsaypatterson/human-world/0122123/why-were-not-reliving-the-70s-oil-crisis/#comment-3067 There were gasoline queues and gasoline rationing because gasoline was subsidized. Since then it has been negatively subsidized: taxed at higher rates than other commodities. There were gasoline queues and gasoline rationing because gasoline was subsidized. Since then it has been negatively subsidized: taxed at higher rates than other commodities.

]]> By: EntropyBran http://blogs.earthsky.org/lindsaypatterson/human-world/0122123/why-were-not-reliving-the-70s-oil-crisis/#comment-3064 EntropyBran Wed, 23 Jan 2008 13:02:44 +0000 http://blogs.earthsky.org/lindsaypatterson/human-world/0122123/why-were-not-reliving-the-70s-oil-crisis/#comment-3064 I agree with one thing you say. "[you] truly have no clue" Just look around you and read between the lines of the Main Stream Media and the "oil experts" and you will see the truth. I agree with one thing you say. “[you] truly have no clue”
Just look around you and read between the lines of the Main Stream Media and the “oil experts” and you will see the truth.

]]> By: Ralph http://blogs.earthsky.org/lindsaypatterson/human-world/0122123/why-were-not-reliving-the-70s-oil-crisis/#comment-3061 Ralph Wed, 23 Jan 2008 10:43:00 +0000 http://blogs.earthsky.org/lindsaypatterson/human-world/0122123/why-were-not-reliving-the-70s-oil-crisis/#comment-3061 The price of oil has less impact than in the 1970s because oil is a smaller part of total GDP. What affected total GDP then and will cause a major depression now will be a shortfall in the SUPPLY of oil. We can, to an extent, afford to pay four times as much for oil. Ultimately that money is recycled by the suppliers back into the economy. However, if the global SUPPLY of oil falls, then there is less oil to translate into GDP, and each unit of oil generates about 14 units of GDP. No oil - No economy. The global stock of oil in the ground is finite. The rate at which we can pump it out of the ground is finite, and for geological reasons, declining. Therefore the global supply of oil is finite and declining. As long as we could afford to out-bid the rest of the world for the oil we need, no problem. Those days are over. Depression, here we come. The price of oil has less impact than in the 1970s because oil is a smaller part of total GDP. What affected total GDP then and will cause a major depression now will be a shortfall in the SUPPLY of oil. We can, to an extent, afford to pay four times as much for oil. Ultimately that money is recycled by the suppliers back into the economy. However, if the global SUPPLY of oil falls, then there is less oil to translate into GDP, and each unit of oil generates about 14 units of GDP. No oil - No economy. The global stock of oil in the ground is finite. The rate at which we can pump it out of the ground is finite, and for geological reasons, declining. Therefore the global supply of oil is finite and declining. As long as we could afford to out-bid the rest of the world for the oil we need, no problem. Those days are over. Depression, here we come.

]]> By: jorgesalazar http://blogs.earthsky.org/lindsaypatterson/human-world/0122123/why-were-not-reliving-the-70s-oil-crisis/#comment-3058 jorgesalazar Tue, 22 Jan 2008 22:28:58 +0000 http://blogs.earthsky.org/lindsaypatterson/human-world/0122123/why-were-not-reliving-the-70s-oil-crisis/#comment-3058 Interesting that Blanchard cites "strong Asian growth" as cushioning the impact of rising oil prices. For China, you can pretty reliably take 10 percent economic growth per year to the bank. I can only hope that we don't relive the gas lines of the 70s anytime soon. Interesting that Blanchard cites “strong Asian growth” as cushioning the impact of rising oil prices. For China, you can pretty reliably take 10 percent economic growth per year to the bank. I can only hope that we don’t relive the gas lines of the 70s anytime soon.

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