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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: CommanderCricket who wrote (50651)10/5/2005 10:33:53 AM
From: cyesp  Read Replies (1) of 206121
 
Michael, clearly $3 gasoline is insufficient to cause most people to park their SUV's, but looking at the numbers from Detroit, it is enough to reduce purchases of SUV's. There is a substantial lag as the market adjusts to the price shock.

I think that the current gasoline prices are enough to reduce overall US per capita consumption. However, the Chinese want more gasoline and probably alot more in the next few years. I think this means there is still more room for prices to rise before we see the magnitude of per capita demand destruction that will be required in the next few years.

I'm thinking wind generation, nuclear, biomass ethanol, smaller cars and mass transit must become much larger contributers to the domestic energy balance.
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