Your faithful correspondent was in the UK in September 2000, during a truckers' strike that literally crippled the country. It was a scary ass reminder of the U.S. fuel shortages during the 70s Arab Oil Embargo, complete with fist-fights and long lines of cars that had run out of gas waiting for gas. It looks like UK is headed for more of the same, as 641 tanker drivers who supply 10 percent of UK petrol stations are set to strike over wages at Friday at 6am. The Times reports that the truckers are engaged in "last-ditch" talks with their employers. Meanwhile, concerns are mounting (as they say) that other fuel-price-beleaguered groups (e.g. farmers) could join a blockade of refineries and other distribution points. In a move of epic imbecility, the UK government has advised the general public not to panic– an advisory that's already set off panic pewtrol buying. There's a big difference this time 'round: after 2000, the government created an emergency plan to deal with the threat, including a significant police/military response. Unless, the strike is averted, and maybe even if it isn't, it's clear there'll be tears before bedtime.
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Now this News has me worried as I have to go to the UK probably in September, due to a family matter and was planning in renting a Car as both my wife and her Mom are not very mobile to use a Bus, maybe by September this year it wont be as bad?
Okay union apologists, where are you on this one?
Should union members be allowed to shut down businesses that they don’t even work for as well?
How about the farmers, okay for them to block the road.
I hope none of these idiots ever try to detain me.
Hey, that’s my MR2! Get that $#%^!
I thought that high fuel taxes, compact development patterns, heavy mass transit use and preference for small cars were supposed to prevent this sort of thing…
at least there are alternative modes of transportation. they may be stressed, but they won’t shut down completely.
At the bottom of this problem are the following three words: global hedge funds. (and sovereign funds more and more).
Here’s how it (most likely) works.
Problem: dollar sinks, inflation rises, and feds keep interest rates low — making domestic equity, bond, and savings investments not as worthwhile, since their rate of return must compete with relative deevaluation of the dollar plus inflation.
Solution: Commodities. Hundreds of billions of dollars are moved into commodities that have worldwide demand (thus generally insulating the investment from dollar decline): oil contracts & food. Heaven’s-to-betsy: When the price of oil rises, the prices of OTHER commodities rise, as well.
Hedge Funds: Hedge fund managers are under tremendous pressure to beat the general market rate of return, regardless of the global political instability rising commodities’ prices cause. HFM manage truly astounding and incomprehensible amounts of money. HFMs have a target price where they will most likely sell the commodity. When a HFM manager gets on TV and says “We see oil at $150” — DONT BELIEVE HIM. He just wants the rest of the market to believe that there is still some upward room to move.
Result: When HFMs and other institutional investors bail (and they will), futures oil contracts will crash back down to some reasonable level (like $80-100). There is some pressure on supply, but not $140/barrel pressure. This is just like the tech boom. Institutional investors got out and made zillions, while the individual investor was left holding the bag.
Hate to say it, but we need to shut thngs down once in a while inorder to let the Govt know how far up the creak without a paddle we’re.
Is like in Biritish Columbia Canada, our Premer Uncle Gordie wanted a Carbon tax. thats add a few more cents to already high fuel, not just can fuel but heating.
Perhaps we need to shut the whole city down inorder for Uncle Gordie to come to some sense.
“When Hitler attacked the Jews
I was not a Jew, therefore I was not concerned.
And when Hitler attacked the Catholics,
I was not a Catholic, and therefore, I was not concerned.
And when Hitler attacked the unions and the industrialists,
I was not a member of the unions and I was not concerned.
Then Hitler attacked me and the Protestant church —
and there was nobody left to be concerned
by Pastor Niemoller
Blowfish,
That’s like attacking your neighbor because a terrorist blew up a restaurant. You should really reconsider.
If you want to protest government, then shut down the capital with a sit in. That is appropriate. It is not appropriate to try to shut down other people’s businesses, or interrupt their lives because you are not well paid enough.
How would you like it if I blocked your driveway to protest my boss?
I wonder? Can the average American Ford run on Sterno?
Wow only took 7 posts to prove Godwins law true.
Godwins law?
Please, enlighten me. Never mind, I looked it up.
Never mind, I googled it. A somewhat meaningless “law” by the way… as opposed to, say, Murphys law.
Godwin’s law is real. But I don’t think it applies in this case. If you replace “Hitler” with “they,” the content of the post carries the same tone.
Shut down the refineries and imports. That will put a stop to the protest. Think how well electric cars would be desired.
What are you going to do? Shut off the power?
Solar panels on the roofs….
Even if his ideas were off base, his Hitler reference was actually appropriate to his argument and not the type of thing I think Godwin’s Law refers to.