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Politics : Rat's Nest - Chronicles of Collapse

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To: Wharf Rat who wrote (6754)	12/15/2007 11:16:38 PM
From: Wharf Rat	Read Replies (1) of 24225

FTX on December 15, 2007 - 1:59pm \| Just seeing them mention peak oil (as they have been doing with increasing frequency) is notable. There's another example of this in today's WSJ, in an article discussing how rising inflation is hampering Fed monetary policy. There was a comment from Greenspan who has always been somewhat dismissive of peak oil (not that I care much what he thinks on the subject, but his change of posture is noteworthy). From the article (my emphasis): Economists and the Fed have typically judged inflation trends by the core, not the overall, rate; food and energy prices, while highly volatile, don't tend to rise faster or slower than other prices over time. But Mr. Greenspan said that's no longer the case. "The notion of core pricing is fading in importance as: One, food prices driven by increased long-term demand for meat and milk rise with the growth of China and other developing countries, and as; Two, global oil supply peaks lower and sooner than had been contemplated earlier," he said. WSJ online.wsj.com

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