It Looks as though IT HAS BEGUN!

RonMN · Posted: Mon May 30, 2005 11:48 am Post subject: It Looks as though IT HAS BEGUN!

I just went grocery shopping. Just a normal run, no stocking up, no expensive cleaners/detergents...just the basic items. And what normally costs me about $70-$80 just rung up to $139.00

This is an increase of almost 100%

At home, I went thru the bill to see if i had bought anything stupidly expensive & there was nothing over 7 dollars...that means that EVERYTHING has gone up.

I know we've been expecting this...but it's a shock when reality bites into your check book!

It no longer matters that 98% of people don't have a clue about PO...with these rising prices...they have to know SOMETHING is up!

Jack · Dark Lord Joined: Aug 11, 2004 Posts: 5123

They're still fairly inert - I am reminded of a scene where the official spokesman announces that the chocolate ration has been increased from 20 grams per month to 10 grams (Yep, I wrote that as intended), and the crowd cheers.

But yes, the prices are starting to ripple through the system. If oil goes up as we expect it to, the tourism industry will be in big trouble, which will generate unemployment at the lower income levels, even as prices go up. And that will start creating awareness.
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Dieoff. Fun to watch. Better with hot buttered popcorn! new_popcornsmiley

smiley · Fission Joined: Apr 16, 2004 Posts: 2146 Location: Europe

linlithgowoil · Posted: Tue May 31, 2005 5:36 am Post subject:

my food bills are shooting up quickly. it cost me £92 for a 2 week food shop, which used to cost about £70 just 2 months ago. looks like its true - the prices only start to really go up after a year or so of consistently high oil prices. I cant afford to go on this way really - defaulting on my debt is going to have to happen soon.

heyhoser · Posted: Tue May 31, 2005 5:50 am Post subject:

Raxozanne · Posted: Tue May 31, 2005 7:29 am Post subject:

Kingcoal · Posted: Tue May 31, 2005 8:18 am Post subject:

Ever since the price collapse in the mid eighties, people tend to believe that these times of high oil prices are spikes and wait for it to drop. When it doesn't, they blame the oil companies, Arabs, etc.

To some extent they are correct. Every president since Carter has tapped the SOR to kill speculation and bring down prices. Bush has a lot of sympathy for the oil industry. He started and bankrupted two oil companies himself. I think he just wants to let the market decide the price and if there are winners (oil companies) and losers (average citizens), then so be it. What the hell, he can't be re-elected... or can he?

In a lot of ways I agree with Bush's strategy. Might as well get the economy used to high oil prices gradually, allowing changes to occur in an orderly fashion. There seems to be consensus in Washington that there are a lot of imbalances that need to be corrected. America consumes too much and produces too little. Much of the rest of the world produces too much and consumes too little. The cheap dollar and lack of action against oil speculation seem to be deliberate. So far China isn't cooperating, however. Everything in the USA is getting more expensive except Chinese goods. Microwave ovens, TVs, you name it, it's all cheaper than ever. It's just like the late seventies, early eighties all over again. Only this time it’s China in place of Japan.

All this economic correction hits low income people the hardest however. They have no real buffer against the rising prices and their jobs are the first to go. I predict a Democrat in the Whitehouse next time around.

NEOPO · Posted: Tue May 31, 2005 9:40 am Post subject:

I predict that the SHTF before the next election.

A "crisis" will occur but as always they will spin it as they wish.

"Due to unusual circumstances and the energy crisis - Mr bush will remain as president until we can get things under control"
And of course they will covertly seek to maintain the "crisis" and things will never again be "under control".

Ahhh yes the first 4-5 term president - nice Surprised

heyhoser · Posted: Tue May 31, 2005 9:48 am Post subject:

Ludi · Posted: Tue May 31, 2005 6:52 pm Post subject:

threadbear · Expert Joined: Jan 22, 2005 Posts: 7783

ehv_nl · Tar Sands Joined: Aug 15, 2004 Posts: 35

Waterthrush · Posted: Sun Jun 05, 2005 4:07 pm Post subject:

Yesterday I came home from various errands to find there was no power. While I was pretty sure that Peak Oil had not hit while I was out, it did get me thinking about immediate summer, and the warning we've all had about brownouts and such. I am asking myself about how I would deal with voluntary/involuntary cuts in power, what needs to be replaced/added to my emergency box, etc.

I think Peak Oil has begun, since I think it will be a longer, slower event than some others here do. I had a rather long morning trip to make in the car today, and I filled the tank at a gas station I use when I am in its vicinity due to its good prices. Upon my return, the price had jumped .02/gallon, which isn't remarkable, except that it is on a Sunday.

The next six months should tell.