Page added on November 16, 2004
But if the USA even cut its oil imports by 20% or 1.3 million barrels/day, then this threat diminishes, and will only come back in autumn 2005. A 20% cut in US oil imports would free up about two year’s oil import growth of the Chinese economy … equivalent to only 4 months growth of world oil imports including the USA.
US$ devaluation may be a salutary shock to the USA, and an opportunity for making energy transition a real world imperative, not a freaky slogan.
An unlikely route to USA energy transition is maybe already starting … through US$ devaluation … since it is the USA that wants devaluation
http://www.vheadline.com/readnews.asp?id=23494
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