tag:blogger.com,1999:blog-99704500378481622.post9072439016947044090..comments2023-10-14T08:23:14.641-07:00Comments on The American Energy Crisis: Market's Zig and Zag, They Don't Zig and ZigA Quaker in a Strange Landhttp://www.blogger.com/profile/15425198389944137571noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-99704500378481622.post-49032972462777287902008-06-30T06:40:00.000-07:002008-06-30T06:40:00.000-07:00For me the big question is; will demand-destructio...For me the big question is; will demand-destruction in the US (using 25% of total oil production, and more than 50% of exportable oil) be faster than the increase in oil imports by China (and to a lesser extent India). If the US imports fall faster than the take-up by others, then the price could fall substantially.<BR/><BR/>But this is complicated by the Land Export Model - tradeable oil is declining far faster than overall production. And in real terms oil is still so very cheap for what it does - it could be 5 times the price and we'd still be using it.<BR/><BR/>So I'd guess that any downturn in price will be shortlived. What's your guess?Donal Langhttps://www.blogger.com/profile/03421610061804732275noreply@blogger.com