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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers -- Ignore unavailable to you. Want to Upgrade?

To: hank2010 who wrote (60698)	8/5/2008 10:25:55 AM
From: Rocket Red	Respond to of 78416

oil even at 100 is no bust too oil companies

To: hank2010 who wrote (60698)	8/5/2008 10:29:44 AM
From: ogi	Read Replies (1) \| Respond to of 78416

One thing I have not believed and that was that China shut power plants because of a shortage of coal. China shut powerplants to meet air quality guidelines and save face for the Olympics. They also shut smelters and other industries although I would have to search to find a reference for that. These will all start up again after the Olympics. China's GDP growth may slow but at around 10.5 % that slowdown may take them to 9%? That is enormous continuing demand going forward. Meanwhile, with the exception perhaps of Russia, the Bric countries are having babies!! Oil correction not a surprise but again I don't see huge supplies coming on stream so I expect that oil could get back to $80, but certainly even if it stays around $100, I think the demand destruction of $140 oil backs off and at this stage many industries and consumers would be happy with $100 and that would be beneficial to the economy as a whole. Cheers, Ogi