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  • What's the Right Price for Oil? [View article]
    The answer lies in the Eye of the Beholder, you see what you wish to see rather than reality.

    China this and China that, the US and Old Europe in recession, Demand Destruction, etc.

    In Reality, the China increase in demand is clearly up even though they are currently facing a slowdown. A natural disaster, Olympic related slowdown from 12% to 10%...we should be so lucky. After the Olympics anyone who expects the restarting of the currently idle industrial complex to create less demand is smoking weed. If it were China alone, a balance might be maintained, but it is not.

    Demand is growing throughout Asia and the Middle East. The Middle East in particular has pumped up supply but not entirely for export. Meanwhile, consumption is going up as the Asian populations experience their first "Wealth" effects. And while China/India populations currently face increases in fuel costs, the people coming into this Arena for the first time won't know the difference. The Asian expansion is only halfway there in China and India is about 5 years behind China. The populations of just these two countries combined are about 4 times those of the US/Old Europe combined.

    They are the future. And just like the Dollar replaced the pound, so will some other currency replace the dollar.
    Jul 27 09:05 am |Rating: 0 0
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