Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: elmatador who wrote (67030)	8/6/2005 12:59:23 PM
From: Moominoid	Read Replies (1) of 74559

The difference at the moment is that the oil price increase is demand driven against a fairly fixed supply (depletion in some areas and lack of investment in others), while in 1973 and 1979 the price increase was supply driven. This is the key difference. The economy is larger and more flexible and able to withstand shocks more now I think too. People, just looking at a high oil price and thinking it is the same as before are wrong. Peak oil will be real some day. We think not now. If we are lucky, alternative technologies and conservation will have become cost effective enough by then to make the effects fairly limited. I don't see there as being a game. There was just a lack of oil supply in 1973 in particular.

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