Peak Oil : Forecourts closing
Just had a thought, I have seen four Petrol stations close on my route into work in 3 months of driving. Now is this a sign of peak oil (this being where demand for oil outstrips supply) or is it simply a case of market forces and competion. Whatever is going on some experts are warning of oil prices hitting a $100 mark by the end of the year, simply put war and stormy weather is having little effect on prices, rather it’s more of a grab what you can while it is still around kind of thing that is goign on. Reserves and pre-developed nations leading a more oil intensive life are mostly to blame for the rise in prices. However current prices at the pump could be making it uneconomical to run petrol stations, thus the reasons for the shutdowns.
One thing to look out for is signs that we are already passed peak oil, if we truely are passed or at our peak, then we should be worried and it is concerning to note the closure of so many stations in a short time frame. The pound has declinced far sharper than it has in a long time, I just hope these economic events aren’t the sign of things to come.