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Politics : Formerly About Advanced Micro Devices
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To: michael97123 who wrote (385621)5/21/2008 9:10:21 PM
From: tejek  Read Replies (2) of 1577098
 
My non-educated guess is that when usage numbers release in june, decline will be dramatic and that will break the price bubble once and for all. Only question for me is whether we get to Pickens $150 first. Pickens is a supply guy and i think he will miss the demand decline. Someone tell parsons to sell his oil in the next few weeks.

I think you're assuming that the demand is coming primarily from the US. I posted earlier that only 1 in 70 Chinese have cars while the remaining 69 desperately want one. The Indian ratio is even greater. I don't think people in those countries are going to give up the notion of having a car because the price of gas is going up.

Meanwhile conservation in the US may force demand down a bit but I don't think the price of crude will drop significantly. At this point what I would like is for the US to get as energy independent as fast as possible. If, in the process, the price of oil comes down......all the better.
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