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  • Barron's Banks on $100 Oil [View article]
    "Demand destruction" -- people act like this is a given. Everyone can go to a restaurant now and see the empty tables. Or the empty malls. Easy to find cheaper sources of food. Easy to wear old clothes.

    I was just visiting New York for a week. Traffic was insane at almost every time of day except 10:30 at night and there were still plenty of cars driving around.

    Sorry, but there's no good substitute for the car. Not yet. Not enough to make an impact when the global population is growing fast and sucking up all the extra oil anyway. This world is far too entrenched in oil to impact the reality of Peak Oil. Sure it could go to 100 --- now what do you think traders will do if it dropped that low?

    I'd hoard all I could via futures before it went back up to 200/barrel. And so would any other rational investor. Thus -- the chances of a dip of that magnitude occurring, I think, is small.
    Jun 22 20:17 pm |Rating: 0 0 |Link to Comment
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