The Price of Petrol » economy

Money Creation & Destruction, Gas Prices, Peak Oil & the Economic Crisis

admin — Mon, 24 Aug 2009 07:43:04 +0000

Understanding money creation and destruction is essential for those who hope to plan for the future.

Changing gas prices impact the flow of money, and ultimately, the money supply and velocity of money. Long term gas price changes, driven by oil prices, are subject to global peak oil extraction.

The run up of oil and gasoline prices from 2005 to 2008 caused a major stress on the economic system, and ultimately was the leading or at least contributing factor to the economic crisis.

Rising oil prices from their lowest levels at under $10 per barrel led to an era of relaxation of loan and mortgage requirements. While this appears to have helped to support the economy for a time, it led to a great maxing out of credit, which then set up a system that was ripe to fail due to any outside stress, such as the failure of the global oil extraction rate to rise.

The resulting economic crisis, due to peak oil and then peak money creation, signals that our current privately-owned, interest-penalty based, money system will not function in this new area of peaking and declining oil supply.

The solution is an entirely different economic model, which focuses on the creation of local food, energy, and credit money, which can be resilient despite innevitable changes in available oil and other resources.

Educator Aaron Wissner presents basic of money and explains how the combination of resource limits for oil combined with relaxed money creation (lending) standards, led to peak money creation, and in turn to an economic crisis.

This is the middle section of a 30 minute talk on money, oil, the environment, and our local future.

Duration : 0:9:1

[youtube 9t0WGsuactQ]

Technorati Tags: collapse, creation, credit, crisis, debt, depression, economic, economy, financial, gas, gasoline, local, money, mortgage, oil, peak, Price, prices, recession, resilience, truth

Old gas pumps not engineered for $4 prices, station slashes costs

admin — Fri, 03 Jul 2009 08:08:03 +0000

Sets of fuel pumps around the country aren’t engineered for high fuel prices. 49 News Reporter Annette Lawless finds one station that cuts the price of fuel to get people at the pump.

Duration : 0:1:46

[youtube YC0o9L0yunk]

Technorati Tags: 49, ABC, Annette, at, auto, automobile, broadcast, Bureau, car, Clem's, college, convenience, diesel, dollar, economy, engineer, four, fuel, gas, gasoline, Grocery, holiday, K-State, Kansas, KSU, KTKA, Lawless, Manhattan, Milford, motor, motorcycle, news, package, Price, pump, reporter, skyrocket, store, Story, Television, Topeka, travel, truck, TV, van, vehicle

Energy Outlook – What Lies Ahead for Natural Gas Prices? – Bloomberg

admin — Sat, 20 Jun 2009 22:54:13 +0000

Natural Gas Soars Most in Two Weeks – Analysis and Discussion with Neal Dingmann of Wunderlich Securities (Taking Stock)

Duration : 0:8:34

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Technorati Tags: business, economy, Editors, energy, finance, gas, International, Issues, Law, legal, natural, NYSE:MMR, oil, personal, pick, science, Technology

KO Countdown : McCain 080618 : Gas Prices & Enron

admin — Fri, 05 Jun 2009 14:50:09 +0000

MSNBC
Countdown

2008-06-18
McCain, gas prices & the Enron loophole

A Countdown Special Report on how John McCain’s chief economic advisor & others in his campaign helped create & defend pivotal legislation that unleashed speculators to run up gas prices.

***

Source
httpp://msnbc.com

Duration : 0:8:57

[youtube RAPhfDRts60]

Technorati Tags: countdown, economy, Enron, gas, John, keith, kenneth, lay, legislation, mccain, msnbc, nbc, oil, olbermann, Price, speculation

PAIN in the GAS: US Average Price for Gas Hits $3.22

admin — Sun, 05 Apr 2009 16:05:46 +0000

A new report by the Center for American Progress calculates the cost of gas price volatility on average workers commuting to and from work and families heading out on classic American vacation road trips this summer. If gasoline prices continue to rise—as some, including Secretary of Energy Samuel Bodeman, believe they will—then the budgets of Americans nationwide are in for serious hits. READ THE REPORT HERE: http://www.americanprogress.org/issues/2007/05/pain_in_the_gas.html Ideas fuel …

Duration : 0:1:10

[youtube 1lgPykAD6zA]

Technorati Tags: american, car, climate, economy, environment, exxon, fuel, gas, market, money, oil, Price, profit, Progress, truck

Beat rising gas prices

admin — Sat, 21 Mar 2009 02:15:08 +0000

A proven product that WILL save you money. Check out this news item on how MPG-Caps will save gas and diesel so you don’t have to buy as much. For more information visit http://www.gripwise.myffi.biz

Duration : 0:1:54

[youtube h3ac69ux45k]

Technorati Tags: bus, car, diesel, economy, fuel, gas, money, news, pick, pickup, RV, save, truck, up, vehicle

The Kinks – A Gallon Of Gas

admin — Fri, 13 Mar 2009 02:07:01 +0000

Gas Prices are at a ridiculous price. Here are some pictures reflecting gas prices over the years. From 1992 to Present Day, where a lot of places are over $4.00 a gallon.

Duration : 0:3:59

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Technorati Tags: $4, admiral, bad, bp, bretodom, crude, dollars, economy, expensive, four, fuel, fuels, gallon, gas, gasoline, inflation, kinks, marathon, of, oil, premium, prices, regular, shell, speedway, the, unleaded

Gas Prices in the US vs Globally – Jared Bernstein

admin — Tue, 03 Mar 2009 01:24:08 +0000

Complete video at: http://fora.tv/2008/04/25/Jared_Bernstein_on_Crunch_Why_Do_I_Feel_So_Squeezed

Economist Jared Bernstein blames supply and demand for high gas prices in the U.S. and recognizes conservation as a leading solution to the problem.

—–

Jared Bernstein talks about Crunch: Why Do I Feel So Squeezed? (And Other Unsolved Economic Mysteries).

Is Social Security really going bust? Why does the stock market go up when employment declines? If youd like to know the answers to these questions, premier economist Jared Bernstein is here to help – Book Passage

Jared Bernstein joined the Economic Policy Institute in 1992. His latest book is Crunch: Why Do I Feel So Squeezed? (And Other Unsolved Economic Mysteries), which follows All Together Now: Common Sense for a Fair Economy.

His areas of research include income inequality and mobility, trends in employment and earnings, low-wage labor markets and poverty, international comparisons, and the analysis of federal and state economic policies.

He is the co-author of eight editions of the book The State of Working America and has published extensively in popular and academic venues, including The New York Times, Washington Post, American Prospect, and Research in Economics and Statistics. He is also a contributor to the financial news station CNBC.

Duration : 0:2:32

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Technorati Tags: conservation, currency, demand, dollar, economy, exports, fair, foratv, gasoline, green, imports, markets, oil, supply, trends, weaker

Peak Oil: Gas Prices, Supply Depletion & Energy Crisis: 5of5

admin — Tue, 03 Mar 2009 01:24:06 +0000

We are entering the Peak Oil era. The growth of oil production is slowing, forcing up oil and gasoline prices, firing inflation, driving unemployment, straining our global economy, and threatening to collapse our entire system. Teacher Aaron Wissner, highlights the impacts, underlying problem, and solutions. This is part 5 of 5 in a one-hour presentation. See the full one-hour video at LocalFuture.org. Also, at YouTube, see the summary with great resources, web sites, video clips, and detailed background on Peak Oil and its impacts.

Duration : 0:10:0

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Technorati Tags: crisis, depletion, economy, energy, fuel, gas, gasoline, global, inflation, oil, peak, peakoil, prices, supply, unemployment, warming

Motorists Driven to Queue for Fuel

admin — Fri, 20 Feb 2009 21:58:05 +0000

Cheap petrol is being sold across the nation – with more than a dozen service stations dropping their fuel prices under a dollar a litre.

The cheap petrol campaign was organised by independent petrol stations to put pressure on international oil giants.

Emma Pickworth has this report.

Duration : 0:0:54

[youtube 173Ia_nZ5BE]

Technorati Tags: Australia, economy, news, oil, Petrol, QUT