The price of oil just keeps going up.
By the way, does anyone ever think that the term 'gas' is simply odd? If gasoline is gas, then what's natural gas? Here's an example where the use of 'gas' becomes awkward: Gas liquids, while valuable hydrocarbons, are not a viable substitute for oil and cannot be economically used as a feedstock for gasoline, diesel or jet fuel. The term 'gas liquids' obviously refers to the oil fractions that's distilled from crude oil during the refinement process, but to someone who's not familiar with the American names, 'gas liquid' just sounds like a contradiction.
The other irritating thing to hearing about all these complaints about oil is that, if you say 'petrol here in North America, most people will stare blankly. I was educated in British English, but I also know the common American English terms; I just wish the North Americans can do the same. I, and probably most other people not from North America, can use metric and imperial, spell in both British and American, understand if you say 'dah-tah' or 'day-tah'.... why can't the North Americans?
Anyway, back to oil prices going up. (And I agree with those who say that world oil production has peaked, so oil prices would only get higher from now on.) So what does it probably mean, for the average consumer? The top three things that pop immediately to my mind are:
(1) The costs of many things around the globe are going up, most notably food prices, and I do think a large part of the rising costs are due to the increasing price of oil, even if there are other factors involved. I think it's likely the 'world will become larger', in the sense that, while it may be cheap and feasible for one to buy 200-mile lettuce or other products that have traveled halfway across the world, this may not remain the case for long and we might see a shift towards to the buying of more local products. Not that I think we will return to a more provincial time, especially since we've opened the 'internet' box, but that on some levels, we can't enjoy all the conveniences globalization once promised because cheap transport of goods and services will not be so cheap anymore.
(2) Driving will probably get very much more expensive. If I was still riding my motorbike, it would cost me CAD19.84 to fill it up now (at CAD1.24 a litre, gas is really much cheaper in North America; it was about SGD1.90 last July, anyone can tell me what's the average price now?) and an estimated CAD36 in four years. This means, very probably, no more big bikes for us. No Ducatis, no petrol-guzzling huge bikes, no revving down a highway at 10,000 rpm. No fun.
(3) Telecommuting and working from home would probably be the way to go. I've been saying that for years but that's because I'm lazy. Now, I can throw in the practical and environmental angle as well: "It's not that I don't want to get dressed in a penguin suit and commute to work, but we should all be more environmentally friendly."
By the way, does anyone ever think that the term 'gas' is simply odd? If gasoline is gas, then what's natural gas? Here's an example where the use of 'gas' becomes awkward: Gas liquids, while valuable hydrocarbons, are not a viable substitute for oil and cannot be economically used as a feedstock for gasoline, diesel or jet fuel. The term 'gas liquids' obviously refers to the oil fractions that's distilled from crude oil during the refinement process, but to someone who's not familiar with the American names, 'gas liquid' just sounds like a contradiction.
The other irritating thing to hearing about all these complaints about oil is that, if you say 'petrol here in North America, most people will stare blankly. I was educated in British English, but I also know the common American English terms; I just wish the North Americans can do the same. I, and probably most other people not from North America, can use metric and imperial, spell in both British and American, understand if you say 'dah-tah' or 'day-tah'.... why can't the North Americans?
Anyway, back to oil prices going up. (And I agree with those who say that world oil production has peaked, so oil prices would only get higher from now on.) So what does it probably mean, for the average consumer? The top three things that pop immediately to my mind are:
(1) The costs of many things around the globe are going up, most notably food prices, and I do think a large part of the rising costs are due to the increasing price of oil, even if there are other factors involved. I think it's likely the 'world will become larger', in the sense that, while it may be cheap and feasible for one to buy 200-mile lettuce or other products that have traveled halfway across the world, this may not remain the case for long and we might see a shift towards to the buying of more local products. Not that I think we will return to a more provincial time, especially since we've opened the 'internet' box, but that on some levels, we can't enjoy all the conveniences globalization once promised because cheap transport of goods and services will not be so cheap anymore.
(2) Driving will probably get very much more expensive. If I was still riding my motorbike, it would cost me CAD19.84 to fill it up now (at CAD1.24 a litre, gas is really much cheaper in North America; it was about SGD1.90 last July, anyone can tell me what's the average price now?) and an estimated CAD36 in four years. This means, very probably, no more big bikes for us. No Ducatis, no petrol-guzzling huge bikes, no revving down a highway at 10,000 rpm. No fun.
(3) Telecommuting and working from home would probably be the way to go. I've been saying that for years but that's because I'm lazy. Now, I can throw in the practical and environmental angle as well: "It's not that I don't want to get dressed in a penguin suit and commute to work, but we should all be more environmentally friendly."
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