Creating a Sustainable Sunshine Coast - Nambour to Mooloolah

My last post (yesterday) talked about how we needed to keep the pressure on the pollies and the media in regards to energy descent aka Peak Oil, Peak Coal, Peak Uranium...

The most urgent Peak is Peak Oil, and I have stumbled upon evidence suggesting that Peak Oil really is becoming more than just a griper's apocalyptic whinge.

The Age Online published an op-ed by Kenneth Davidson on the phoney politics of petrol.

http://www.theage.com.au/opinion/fuel-price-debate-ignores-real-issue-20...

Goldman Sachs predicted $200 oil. People are listening to them, because they had the intestinal fortitude to call the shot on $100 oil.

And, the Wall Street Journal reports that the International Energy Agency is preparing to lower its forecast for ceiling rates of oil production from 116 mbpd to around 100 mbpd. THAT is big news.

http://online.wsj.com/article/SB121139527250011387.html

Oil @ $200? Might mean petrol at $2.00 (we're already paying that much here in the Torres Strait).

Oil @ $200? Think of what that means for general inflation.

Oil @ $200? The recent historical precedent to tackle inflation is to raise interest rates. If the Federal Reserve Bank of Australia carries on in this way, well, I'm afraid that homeowners are in for a bit of a ride. Sadly, this method of combating inflation is going to throw many people out of their homes and farms unless the government comes up with some kind of homeowners' protection legislation. This could be a mortgage freeze combined with a real-estate price re-evaluation. Essentially, a reset switch on the economy, a la the New Deal championed by Roosevelt during the Depression. After all, what good is an economy if it is not going to serve the majority?

If I had a variable mortgage, I'd be locking in my rate, now. I'm glad we did this two years ago. Labor's going to get blamed for high rates, again, unjustifiably. Well, maybe justifiably. If Labor won't take some kind of measure to protect homeowners from getting thrown out of their homes because of circumstances beyond their control, i.e. the inflationary spiral predicated by global oil supply and demand mismatches, then Labor deserves to take some heat.

Plant a Victory Garden today! Combat inflation! I do believe that we need to prepare for this Peak Oil thing as a nation as if we were to prepare ourselves for wartime. How do we prepare for wartime? I'm not sure to be honest. But we'd better start asking our elders how they did it. Education will seed action.

The eggplant and basil today was great!

Peace in our communities.