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Politics : Foreign Affairs Discussion Group -- Ignore unavailable to you. Want to Upgrade?

To: Keith Feral who wrote (148255)	10/20/2004 8:49:48 AM
From: Michael Watkins	Respond to of 281500

Why should I sense the merest whiff of reduction of demand for oil? My bullish outlook on oil is based squarely on the increasing demand for oil in every sense of the world. No one is seriously suggesting that demand is about to abate. That wasn't the point I was trying to make. Oil keeps hitting my upside targets, eerily so. I haven't even once suggested that its rise is over. My comment, plainly put is this: we (not just the US but the entire developed world but particularly North Americans) use oil as if it were our birth right and no serious attempt at reduction (remember the 70's) has been made in recent decades. Our economy is fully linked ot ever higher rates of exploitation of oil. Its this use-with-abandon mentality that puts us most at risk.