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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: mishedlo who wrote (15119)11/8/2004 10:46:45 AM
From: Knighty Tin  Read Replies (4) of 116555
 
I guess I still have a problem with his math as far as Chinese oil demand goes. If China's demand is going to grow every year, is the growth rate that relevant to the price? For example, if they demanded 100 barrels in 2003 and that grew 34%, they now have demand of 134 barrels. If the growth rate "declines" to 10%, then in 2005 they will demand 147 barrels. I can't see why 147 barrels of demand will cause lower prices than 134 barrels, especially not with fairly inelastic supply.
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