This will cause the price of oil to double or triple. Stock markets will suffer hugely and the world economy could go into recession. Energy prices and inflation will rocket. Interest rates will go up, increasing mortgage repayments. People will curtail their car travel because of petrol prices.
What you are saying here makes no sense. An increase in the price of oil is no more inflationary than an increase in the price of soybeans due to crop failure. In any case, how would increased interest rates help in a peak oil situation? Would increased borrowing costs help discover more oil?
Hi room305,
I am only paraphrasing the doomsayers. Please feel free to correct any misrepresentations or false ideas.
I guess the inflation part comes from the price of almost all goods increasing due to much higher energy costs. Along with fuel for transport, electricity, anything made of plastic, all imported goods (due to the increased cost of transport) should rise in price.
1. Lifestyle
[*]Move to city where public transport is more available...?2. Housing
[*]Energy-efficient, well-insulated house using solar/wind power where possible.
[*]Move to city where public transport is more available...?
[*]Location on public transport route.
[*]Reduce exposure to stock markets over 5 year period (if you expect a sudden big crash down the line) ? Move this money into safer investments...(savings a/c ?)
[*]Reduce mortgage as quickly as possible in next years in expectation of increased interest rates, or buy smaller house ?
[*]Invest in alternative energy companies ? Oil companies (will share prices increase because of higher oil price or decrease because of reduced oil quantities) ?
I felt that the existing thread was more aimed at the effect on the economy. My question relates to how a smart individual might prepare him/herself for such an impending problem, assuming that the scenario will play itself out as the doomsayers expect it to.
Feel free to merge threads if you can.
In the city you wouldnt have any land to grow anything and maybe that would turn out to be valuable.
Maybe this is an option - http://news.bbc.co.uk/2/hi/americas/6752795.stm
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?