 | DrumBeat: July 23, 2008 | The Oil Drum | Plan for Hydro-Fracture Drilling for Unconventional Natural Gas in Upstate New York |  |
112 comments on POLL: CLU08 went through $127/bbl today..so, in the next 60 days, the front month price of CL will...
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112 comments on POLL: CLU08 went through $127/bbl today..so, in the next 60 days, the front month price of CL will...
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| Show without comments | PDF version
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GAIA Host Collective
I agree with you and when Hurricane Dolly hits it will be the excuse again by TV's talking heads when the bounce occurs. In Australia they are now saying the bubble is bursting and lower fuel prices are on the slide!! And most will believe them !!
G'Day Cooma,
Commenators should be licensed - there was a raving idiot who got air time on Radio Aunty this morning saying words to the effect of..
"Oil prices will fall further as the US$ STRENGTHENS".. Surely a recovering US economy would stimulate demand???
The paradigms people use to understand events are so broken people cannot make sense of the data. In some books, if the US economy and dollar strengthened, then yes, prices of imports would fall.
In a world without limits, that is. But we're past peak everything - because energy underlies everything. Peak economy - in the biggest sense of economy. The attempts to force facts into old paradigms will get increasingly absurd - like all those epicycles pre-Galileo. This commentator, the politicians, the media, the public.
A square peg doesn't fit into a round bump. But if all you have is a hammer, you will cause immense destruction trying to make it work Until you change paradigms, all you can do is cause damage - and the harder you hammer, the worse it gets.
cfm in Gray, ME
It is truly totally irresponsible of these people to even suggest such a thing. The demand boom is just getting started. The average Chinese uses only 2 barrels, while the American uses 25. The average Mexican uses 7 barrels, while the average Indian uses 0,8 barrels. The room for further demand is just incredibly huge and we're seeing it in the vehicle sales and energy demand across the world. And now the Tata Nano car is about to be launched as well, the "people's car". India has 40% more people than all the western countries combined...