March 12, 2014 at 10:30 am #490496Le LoupMember
On the question of oil, did any of you know about the oil strike in Coober Pedi ? All the oil we need. Why is it not on main stream media?
Check out this video on one of my blogs. A long one, but well worth watching:March 12, 2014 at 12:09 pm #490497owlbrudderMember
GirlFriday post=360545 wrote: is putting extra money into my Superannuation a waste of time?
GF, if/when the monetary system collapses, everything will be affected approximately equally. Money in superannuation will be no better or worse than money in a bank, but there is a good chance super will grow faster than a bank deposit in the meantime.
In my opinion (and I’m not qualified to give advice, so get professional advice as well), keep putting the legislated amount into super and apply any surplus to outright ownership of a block of land on which you can live and grow food in future. Owning an apartment in the city will be of no use if things go pear-shaped, so look at a rural situation with good water prospects and decent soil. Self sufficiency will be the watchword if society becomes unstable.
Of course, if we end up with armed ravenous hordes from the cities wandering the countryside, hanging on to your produce and your home will depend on the degree of force you are prepared to use to defend your family, but that is a worst-case dystopian vision and you will have plenty else to worry about, if things get that bad.
Hope for the bast. Plan for the worst.March 12, 2014 at 12:17 pm #490498Le LoupMember
I agree with owlbrudder, you won’t get better security than owning land out bush if it all goes pear shaped.
Keith.March 13, 2014 at 8:42 am #490499PinetreeMember
I also agree with owlbrudder and le loup, assets that are able to be used to generate food/shelter/surplus will be of benefit in the event of the electronic/paper system falling over.
Super bases its returns on continued growth in the economy, look at what happened to returns during the GFC.
Another factor that will affect super is the up coming retirement of the largest demographic in the western population, hello to all the baby boomers out there. Super will need to continue its growth and returns while paying out a large number of its members, that will be interesting.
PinetreeMarch 14, 2014 at 11:55 pm #490500GirlFridayMember
Yes we are already paying off our bit of land and have meat and veges growing- fruit is a few years off yet as the trees are still in their infancy.March 16, 2014 at 9:17 pm #490501SnagsMember
This article was in the Age today Business section
Oil production in Australia peaked in 2000.
It would have peaked worldwide too by now, had it not been for the shale oil boom in the US.
Some interesting work by this country’s most unrelenting peak oil proponent, retired engineer Matt Mushalik, shows that without shale oil – which accounts for 1.5 million barrels a day – world oil production last year was back at 2005 levels.
It seems a monumental economic crisis may have been averted.
Still, the price of crude oil has stubbornly hovered around its present mark of $US108 a barrel for the past three years even as shale oil production has ramped up.
Thanks to the shale oil boom, the more alarmist cries of the peak oil brigade have been subdued.
Even with advancing technology and ever more sophisticated extraction methods though, it is London to a brick that the price of crude oil will rise sharply in the longer term.
You would think then that peak oil might be factored in to major policy decisions about the future of the nation and its infrastructure.
Energy security is paramount.
Research on oil, perhaps the most critical commodity for Australia’s long-term security, has been abandoned.
As the Abbott government grapples with the tricky question of how to fund big projects ahead of public hearings on infrastructure next month, the question of oil prices is not even on the agenda.
Already, the bias of state and federal governments for roads over rail has been well documented.
As oil is the most critical commodity in fuelling any transport option, you could be forgiven for thinking that it should be on the agenda.
Nothing in the issues papers, nothing in the draft report from the Productivity Commission. It seems to be an article of faith that people will keep finding oil somewhere, so let’s not give it a second thought.
In an interview with the US Association for the Study of Peak Oil and Gas in January, an ex-Saudi Aramco geologist, Dr Sadad Al-Husseini, predicted oil price spikes of $140 by 2016-17.
We still haven’t recovered from the last time it hit $140 and that was years ago
Economies cant even get started at $100 a barrel.
Sure there’s heaps of reserves of oil but its uneconomical to get them
The worlds oceans are full of uranium and hydrogen doesn’t mean its a cheap energy source if it costs more to extract it than the energy it produces it stays in the ocean and we burn fossils.
Finding/Making shale Oil costs $1.50 for every $1.00 they sell the oil and gas for at $100 a barrel they are losing money but its only a small percentage of overall supply and its being absorbed for now.
Shale oil also has a few decades in it at most before the buffer is absorbed by demand destroying economies.
The major problems will be angry, hungry people with no American dream to chase and keep them sated.
Only thing you can do
Get out of debt
Try and become as sustainable as possible.
Grow food, collect water, build a rocket stove.
Form relationships within your community
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