The Clueless March Toward Oblivion

We, in all likelihood, are going to have significant shortages of
gasoline, Bush said. I would urge people to recognize this, not to
hoard.

That's Jeb Bush, Texas Governer.

With analysts on cable news channels raising the possibility that Rita could push gas close to $5 a gallon, some Floridians on Thursday were filling up - just in case.

This is sure to have a flow on effect in New Zealand because the overall world wide surplus will diminish. Expect petrol to be out toward $1.60 within a week or two.

If you own one of those big fuck-off monster SUV's that guzzle gas - bad luck. If you've just purchased one, take a good look in the mirror, slap it with a cold spoon, acknowledge your own stupidity and get "chump" tatooed across your forehead.

I spend less than 12 bucks a week on petrol. An extra gold coin won't worry me much.

Oh sure, this is just a spike caused by a supply security. But, these spikes will become increasingly common as supply is unable to meet demand and minor supply constraints manifest on the international market.

The price of oil is only going in one direction. Furthermore, once that available supply is unable to meet demand (18 months) we'll see what we might call superspikes. That's when the ideological stupidity of the argument "the oil companies can't tell me what I can drive" will come face to face with realpolitik - will the market provide - oh sure, mind you the scarcity factor on Vespas will have significantly increased by then.