NZ Politicians Inflicted with Acute Stupidity
It may be lost on some people that a rise in the price of oil of almost 300% since 1999 is a trend. It's a trend that won't go away.
New Zealand politicians of almost all persuasions (with the possible exclusion of the Green Party) continue to bang on about how the current high price of oil is an abbertation. That prices this year some time will return to normal levels.
In fact the NZ Government with it's swollen luddite head firmly placed deep in the sand still believes that oil will return to around US$20 per barrel, that economic growth and increased oil supply will continue forever and that the best thing at present for the NZ economy is to spend a few billion dollars on more roads.
This from the last Energy Supply and Demand Projections - Ministry of Economic Development.
"Oil prices rising from US$20/bbl in 2004 to US$25/bbl by 2020 and constant thereafter; "
The current price of oil at the time of this posting was US$51
Meanwhile our politicians are arguing and bickering with one another like a rabble of retarded galah's as to how we ought to spend billions on more roads to solve our congestion problems. The solution to all our woes so it seems is to continue to invest in infrastructure that has absolutely no future.
Matt Simmons informs us that world demand for oil is currently about 82 Million barrels per day. It is exceedingly unlikely that any of the key oil producers, Venezuela, Norway, Saudi Arabia, Iraq, Iran, Russia the US or the UK can increase production. In fact many are already beyond peak production.
The SIMPLE FACT lost on our idiotic politicians is that oil demand is very close if not at total maximum global supply. Lack of capacity exists right across the supply chain, from the well-head to refinery.
If oil demand grows at the same rate this year as it did last - we have perhaps a year or two left of happy go lucky drive-in utopia.
Meanwhile our fuckwit politicians are screwing our future down the drain assuming that happy-clappy economic growth will continue forever and ever - they are wasting billions of our dollars flushing them down the toilet by building white elephants highways to nowhere.
When will these dickheads wake up?