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

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

Duration : 0:1:46

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

Duration : 0:8:34

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

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.

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Source
httpp://msnbc.com

Duration : 0:8:57

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

Duration : 0:1:10

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

Duration : 0:1:54

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

Duration : 0:3:59

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

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.

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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 you’d 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

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

Duration : 0:10:0

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

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

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