Friday, June 27, 2008

petrol prices

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Does anyone have any idea when these are going to be coming back down?

Apparently 60% of the price inflation is down to fear and speculation in the market, as opposed to any problem with supply (fellow peak-oil people, take note!). This is therefore another case of market failure.

I want to know where all that money- $3 trillion, according to Gordon Brown- is going? Because it certainly isn't funding renewable generation capacity or developing alternatives to fossil fuels.

Idealists might consider some sort of action to be imperative at this stage, but what and how? We are the little people. We do not have mega-bucks in the bank to switch to alternative forms of transport or alternative fuels. The phrase "over a barrel" springs to mind.

I suppose all we can do is continue to point out that this is all the product of our government's continued embrace of the neo-classical economic model and neo-liberal politics and hope that at the next general election people are so disaffected that they consider (SHOCK, HORROR!) voting for a real solution.


Addition:

A reminder of how we got here.

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