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I detect a grave lack of faith in the miracles of free trade in this thread...

No, but seriously, I think a lot of the consequences of peak oil when it occurs worldwide depend upon whether the oil trading system survives. Basically that's the question of whether everyone accepts prices that increase manifold or if some countries try to limit trade to take possession of the oil (and gas, and coal) for themselves, at a lower price.

Although it would be nice for the EU to move towards a much higher degree of energy independence right now, no more sudden moves in that direction are going to happen until the energy markets send price signals that are high enough (What's high enough? Let's start with $100 oil. But in real terms that used to be more and our exchange rate is also much better than it was two years ago. So maybe $125 oil.). Or until the markets are destroyed.

by nanne (zwaerdenmaecker@gmail.com) on Tue Jun 19th, 2007 at 06:37:44 PM EST
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