quote:
But the demand situation has been exaggerated for so long. India China India China. Yes yes, we know. But aggregate world demand has gone up something like only 10% since 2000. And the dollar has depreciated quite a bit.

10%?

Surely you jest.

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Posted by Tigris

Cloud Cuckoo Land

Member since Jul 2005

13136 posts

Posted on 9/11/08 at 6:30 am to countryboy

quote:
That is exactly right about the $50 oil because we will all be using Natural gas in our vehicles I would hope.

We don't have nearly enough natural gas for that. Hell, we really don't have enough natural gas for all the new power plants being built. They should all be coal and nuclear but thanks to an idiotic Congress they are nothing but natural gas plants for the foreseeable future.

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Posted by Tiger JJ

Member since Aug 2010

545 posts

Posted on 9/11/08 at 10:42 am to Tigris

Chinese stockpiling oil before the Olympics?

quote:

One of the factors we had mentioned that appeared to be contributing to the oil price runup of the first half of this year was China stockpiling gasoline, particularly diesel, in preparation for the Olympics. That notion was not well received.

This article from Reuters says that China is unlikely to return to its pre-Olympics levels of fuel demand for many years to come. Aside from the end of stockpiling, another factor is that China has started to cut its fuel subsidies, realizing that cheap energy allows manufacturers to be energy-inefficient, which in the long run will put China at a competitive disadvantage.

LINK

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