How will it affect you? Well, imagine there are 12 children at a birthday party and a cake, enough for all 12 kids, cut into 12 portions. But now you take away 1, maybe 2 portions of cake. What happens at the party? What do the children do? They start to bicker because there's not enough to go around. Do you think the kid who ends up with nothing accepts that with grace? Do you think the 10 kids who could conceivably each get a piece calmly wait their turn?
This is a scarcy prospect, because farflung countries like Australia and South Africa might have to go without energy for a while. That has implications and consequences. How will your suburb cope with energy supply cut off for an unpredictable period. How will you cope if you can't bicycle to work? Because the bottom line is that gas stations will run dry for a while, no one knows where, or for how long, and obviously with prices now at $120, they could go anywhere with a major supply shutdown.
It should also be borne in mind that Katrina pushed oil prices up and curtailed supply at a time when oil prices were sniffing way south of $100, in the good ol' days of 2005. Now we're at 2008 levels, $120 and economists, bankersand politticians are praying that the likes of Hurricane Gustav simply don't materialise.
You know you are in a really tight spot when you're gambling that the weather - with all the environmentaldamage we cause - plays ball. The odds are, these systems aregoing to get worse. It's the sort of situation where the only positive thing you can say (if we insist on being positive) is "Well, at least you have your health."