Grieving for oil

[stocdavw]

I have been following the `Energy and Capital` news letter for about a year now. Most of the columnists agree about Peak Oil. Here are a couple of excerpts from Chris Nelder`s column.

"I have often reflected on how coming to grips with peak oil is much like the process of grieving, as identified by Elisabeth Kübler-Ross in her 1969 book, On Death and Dying. In peaker terms, I`d describe it like this:

• Denial: "There`s plenty of oil out there, and we can drill our way out of this."
• Anger: "Why aren`t those *******s drilling our way out of this?"
• Bargaining: "Well maybe ANWR, the continental offshore, the tar sands, and slightly more efficient cars will fix it."Depression: "Oh man, we`re screwed, it`s too big a problem for me, I might as well give up."Acceptance: "I`m ready for the second half of the Age of Oil and I`m going to find a way forward."

"How long have we been living on the banks of denial? And it slightly depressed me today to discover that I wrote an article by that very title back in September 2005, which I could have written today:

Energy will continue to get more and more expensive. In a short while, you won`t be able to afford to fill the tank on an SUV. You will learn to like wearing sweaters, and living without A/C. If you live in a big city or a suburb, you will probably have to move. If you`re in one of the red-hot real estate markets in the US, the value of your property will take a couple of sickening drops. Your money and investments will devalue. You will find it increasingly difficult to buy—or even get—food. Water will get scarcer, more expensive, and harder to clean.

Let me tell you, it gives me absolutely no pleasure to say that I was right. I`ve been trying to help keep this from happening for over a decade, and I`ve never wanted to be right less in my life"

The vast majority of people are in the denial or anger stage. A few people are moving into bargaining, even fewer into depression and fewer still into acceptance. It looks like oil prices probably have a pretty good run to go yet. Just a little more ammo for the next time someone asks you "what if oil goes to a dollar?" These same people will soon be asking " what if oil goes to $300.00?"