Demand Destruction is here now

Discussion in 'Commodity Futures' started by jasonjm, Jun 16, 2008.

  1. jasonjm

    jasonjm

  2. Daal

    Daal

    you know, the only thing that will keep oil demand flat for 12 months is 0% world gdp growth, THE ONLY THING
     
  3. Europeans are used to high gas prices, so I don't see your point.

    Gas prices have always been high in Europe and their economy is not dependent on cheap oil like it is in America, as they have a much better public transportation system and cities are more compact.
     
  4. jasonjm

    jasonjm

    wow

    thats the beauty of the point how can you miss it?

    if they are so used to high gas prices, why did UK drivers cut back 20%?

    surely they would just pay the high price and behave exactly as they did previously?

    point is they didn't.
     
  5. euclid

    euclid

    If only that were true, but unfortunately it's just some journo getting carried away.

    If you'd read the comments you would have found this:

    "Contrary to what the article states, I made it very clear to the interviewer that we should not extrapolate from a single data point (March, which shows a 20% year-on-year fall), which is liable to be revised. In addition, April deliveries were probably higher as Easter occurred in April, rather than in March. As such, the March-April average would be in line with January and February - an 8% drop, rather than the 20% decrease that the story reports, and more in line with current market conditions.
    I would be grateful if you publish this comment in the benefit of your readers.
    Eduardo Lopez, Senior Oil Demand Analyst, IEA
    Posted by Eduardo Lopez on June 11, 2008 2:24 PM"
     
  6. jasonjm

    jasonjm

    sweet, i love spin!

    well, 8% is still demand destruction.

    20% when oil is at $200

    hehe
     
  7. lt sweet crude is the whtmen's cracks.
    now ya know what the bros goes through when he's smoking crack cocaine.