If you were to read the post about peak oil a few days ago you would see that one of the casulties of peak oil is disruption in world and country economies. The solution is not to maintain the status quo, and spiral the economy down as oil supply is reduced.

The solution is to embrace new technologies, transportation methods, city design, and personal consumtion of oil... Cheap oil is not the solution to the impending problem. it is the " Jim Jones" equivilant to the situation we are now presented with. Cheap oil will simply provide the oportunity for China and India to develop within the status quo context. A turning point that will lay the foundation to future prosperity and world dominance. Those that have a robust economy in a context of a minimal hydrocarbon footprint will be the survivors.

$100 oil is a solution... not a problem!

Every 12 days 1 billion Bls of oil is consumed..... That amount is not being replaced, and certainly won't be with $40 oil.

This is the opportunity for the US to lead the world out of the recession via building the next generation economy. This will take decades to undertake.

This is good for the counrty, the world, the environment and ultimately the resource stocks that will provide the materials to undertake this shift. The status quo is doomed to failure because of the finite limits of petroleum production.... The time to act is now.... Low oil prices are a major problem because it disquises the aproaching major problem.

Contraction of the global economy only provides an opportunity to follow the decline in oil production with a decline in civilization as we know it. Our society and lifestyle is dependant and directly corilated to the abundance of energy.

The economy is going nowwhere until the death spiral underway is stoped. Hopefully the Obama plan will start this journy to energy independance for the US and provide jobs for millions of Americans. Self preservation and protectionism is also not the way to the future. That is some of the rethoric I here coming from some of the Senators and congress in the US.... That is not good for Canada.... and our goofs in Ottawa decide to take a 6 week time out...... Harper fiddling while our country burns.

One more point is that the oil consumption decline is minimal during this recession... it will amount to less than 5% .... unless we all go back to the stone age as El Quida ideology suggest.

JMHO