Meanwhile in Australia, our Gasoline (petrol) prices have remained constant over the past few years. They trade in a range of $1.80~$2.20/L $2 at the moment. This is a consequence of the $Au going up and down against the $US. The basic equation is when the $US gets weak in world currencies Oil and gold and all else priced in the buck goes up up up. But when your local currency goes up up up as well, the oil price, hence the petrol price, stays fairly constant.
I remember when our petrol went over $1/L It was over 20 years ago, a big event because many of the pumps had to be replaced because they didn't have enough digits on their tumblers to cope. It was a real Y2K event unlike the Hoax one that was fabricated to sell off billions worth of old computer stock and software just before prices plummeted in the new millennia. I'm no IT guy but I remember resetting my old computer's clock to a date in the new millennia and it didn't blow up! But of course I don't watch TV, even back then, so all the
Fear and doom propaganda hadn't overpowered my ability to reason. I remember old mate going and wasting $5000 on a new one which he could have bought 6 months later for $2000. Such is the gullibility of womankind.
Ten years after the petrol price cracked a dollar it went to $2.20 odd. That was a shock
That was the Peak Oil moment
Then it fell way down, then began it's inexorable climb again, but not as rapid as many other commodities or basic consumer items. The simple fact that oil is so cheap today considering it's absolute necessity for modern life is no surprise. Many have been pushed off the wagon so to speak and no longer consume it. Then there are the efficiency gains of modern engines across the board. All in All I think $2/L is a fair price, a good price, a great price in fact providing you don't have a crappy city lifestyle where you have to commute 6 or 700 km a week to work and back.
When I awoke to peak oil, back in 2005 abouts I quickly got rid of my two V8's and bought a 4-cyl car and 4-cyl bike. A real bike, a Japanese bike, not a stupid 1950's designed Harley. Not many down here ride those puss buckets, just the old outlaws and those that have never really ridden and think it's all about image 'Bro'. Accountants having a midlife crisis, middle-aged plumbers who want to feel tough on the weekend, typically short men. I also began accumulating Gold back then. Petrol has gone up 100% since but Gold has gone up over 400%. One day in the future I'll probably start selling some of that gold to fund my ongoing retirement, I've certainly finished buying it after 18 odd years, it and silver.
