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

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

The Indian government has just increased its fuel prices by 10 percent, the first hike of the year and the steepest ever.

This has not gone well with the consumers and especially with the farmers. The lack of monsoon rains are forcing them to irrigate their fields with tubewells that use up many liters of diesel.

[Rajendra, Farmer]:
The tubewell consumes around 15 to 20 liters of diesel, but now after the hike in prices of fuel, how will we arrange for so much money to run the tubewell? It will be very difficult for us, we will face heavy losses.”

The rise in transportation costs will also make food items prices go up.

[Bheema Chavan, Vegetable Vendor]:
“With the increase in fuel prices, the prices of vegetables will also go up.”

But the government has not increased the price of cooking gas and kerosene to protect the poor and middle-class.

Duration : 0:1:13

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Technorati Tags: consumers, diesel, economic, farmers, fuel, hike, indian, irrigate, monsoon, news, ntd, ntdtv, Price, rains, transportation, vegetables

Duration : 0:1:46

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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 : 0:0:37

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Technorati Tags: Bill, crazy, expensive, funny, gas, gasoline, hilarious, long, Mobil, premium, Price, prices, pump, Receipt, Ridiculous, station

http://www.kmbc.com/news/19705276/detail.html

Duration : 0:1:40

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Technorati Tags: auto, car, carpool, City, cost, driver, fuel, gallon, gas, gasoline, Kansas, KMBC, marc, Marcus, Missouri, MODOT, moore, news, octane, oil, Price

Duration : 0:2:32

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Technorati Tags: DeHaan, gas, Price

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

Duration : 0:5:53

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Technorati Tags: chairman, Committee, edward, energy, gas, global, independence, markey, oil, petroleum, Price, reserve, select, strategic, us, warming

Duration : 0:4:10

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Technorati Tags: analysis, commentary, grassroots, hike, outreach, Petrol, Price

Duration : 0:1:56

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Technorati Tags: aljazeera, belcher, fuel, hannah, hike, later, myanmar, Price, year