Fuel and The Impact On Travel
With Oil peaking at around $135 from the previously unthinkable benchmark of $100 per barrel, we are now seeing a major shift in business trends.
General Motors has just announced the rollback of their planned new SUV vehicles and gas guzzler brands such as Hummer. Qantas have cancelled 6 routes completely from their schedule to mitigate risk and Virgin Blue has stated that unless their fares substantially increase there is only 6 months of cash in the kitty before the company could potentially go bust.
BMW are pushing Hydrogen as fuel with their smooth travelling 7 Series concept car and Toyota are looking to go fully electrical in the next 3 years.
Clearly, oil is a substance that citizens are dependent on and companies are now struggling with. Oil affects food prices and changing trends in movement and spending. What can you do to reduce your risk, your bills and still be a traveller?
General Motors has just announced the rollback of their planned new SUV vehicles and gas guzzler brands such as Hummer. Qantas have cancelled 6 routes completely from their schedule to mitigate risk and Virgin Blue has stated that unless their fares substantially increase there is only 6 months of cash in the kitty before the company could potentially go bust.
BMW are pushing Hydrogen as fuel with their smooth travelling 7 Series concept car and Toyota are looking to go fully electrical in the next 3 years.
Clearly, oil is a substance that citizens are dependent on and companies are now struggling with. Oil affects food prices and changing trends in movement and spending. What can you do to reduce your risk, your bills and still be a traveller?
posted by SMC Trader at
6/05/2008
4 Comments:
Public transport has to be the way to go. Buy yourself a season ticket and then you can travel as much as you like by bus or train and you don't need to worry about the price of petrol rising day by day.
yes public transport is a method; how about car pooling - at least then you are only with a couple of randoms; you still have to be ready when they are ready and leave when they want to leave. The mindset of independence should be revised; the rising costs might bring an end to the nuclear family - maybe a good thing.
how to hedge against oil prices - FUTURES especially if the idea that prices will rise another 20%
What Future will we have if oil prices rise by 20%? May be we should follow the Dutch.. buy a bike and use pedal power?
A future that actually might not depend so much on oil products, maybe. Polymer manufactures are now looking at alternatives may be good.
An increase by 20% would put petrol prices up around $2.00 per litre ( which is approx what europeans are paying - see we are following the Dutch)
As for the bike "idea" riding into work does little to appeal to me - they have bike parking stations near transport hubs - just like we do.
Another area where we should follow the Dutch and build some dykes to kerb the rise in ocean levels.
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