Peak oil - Fact or fiction?

[Scythe13]

(9 February 2012, 16:47)NorthernRaider Wrote: Its not the amount of oil that is available, or where it is, its can we afford it and I think the answer will be NO for most people

This is exactly what I have been thinking, but not managed to explain quite as accurately as I'd wished to.

I understand where you're coming from TL, but I have to disagree. The majority of the cost of fuel for us is tax. It's at a rediculous percentage now. The capitalist system allows the prices of items to come down through increases in technology, production, transportation, and transaction. That is the beauty of capitalism, it allows everyone the opportunity.

The problem is the tax on fuel and the government's lack of understanding of true Smithian capitalism. It will be the government's tax that pushed the cost of fuel outside of everyday peoples boundries. Granted the cost of fuel has increased for the industrial production machine, but much of that is just inflation and cost to extract/process. The major increase is the tax % the government adds on. Remember a couple of months ago when there was going to be that tax that would add 10p per litre? The government doesn't know anything about business. If the did, they would be earning mega bucks with their own business.

Big business won't price the everyday man out of the market. The government's tax will.