fxtrader07

As Oil Slides, Will Contrarians Turn to Refiners?

all that talk about 'demand destruction' hm, what about #supply destruction' in gasoline and distilled products when a lot of non-sour refiners are actually losing big bucks now? How long can Tesoro and others produce while losing money on their products?
On the other hand, people will get used to $4/gallon gas pretty soon The very structure of the us economy and its transportation system allows only for so much 'demand destruction'. While the idiots like rumsfeld and cheney loved to brag about 'old europe' they never realized that europe has actually learnt a great deal from the oil crises of the 70s. Many countries there have a public transportation system the usa could only dream about to get. because opver there $9-$10/gallon is the rule, not the exception. And THAT is a level for demand destruction. not $4 or $5