[EnemyCombatant]

Here's a clue:

The Coming Economic Collapse
How You Can Thrive When Oil Costs $200 a Barrel
Stephen Leeb, PhD

[threadbear]

$this->bbcode_second_pass_quote('EnemyCombatant', 'H')ere's a clue:

The Coming Economic Collapse
How You Can Thrive When Oil Costs $200 a Barrel
Stephen Leeb, PhD

[AgentR]

$this->bbcode_second_pass_quote('Gideon', 'A')s a preliminary matter, what "appreciable" demand destruction did we see when oil was over 70 this summer?

[Starvid]

$this->bbcode_second_pass_quote('Gideon', 'G')ideon's Prediction:


The key moment will be when it becomes inarguable that SA is in terminal decline. When the world notices that, and no SA excuses will cover the decline, then oil will breach 100 bucks and, even accounting for inflation, it will never come down.

I think w/in 36 months.

In fact, I'm betting on it.

[threadbear]

$this->bbcode_second_pass_quote('Gideon', 'S')omeone wrote:


But I see 75% of Americans driving solo to work with gas at 5 bucks a gallon. That's 60 dollars to fill up your compact sedan. And you get 350 miles out of that. So if work is 30 miles away, that's your one week cost. Most Americans will eat the extra 30 bucks each week rather than carpool.


I look at it this way. With oil at 75 a barrel and gasoline at 3 bucks a gallon, I saw no change in most people's behavior. A guy accross the street is warming up his car for 5 minutes in the morning, and it's 45 degrees! People still run around doing useless things.

So if oil goes to 150 and gas is 6 bucks a gallon, will people still drive? Of course! Less? Of course!

The question is "how much?"

[Dreamtwister]

$this->bbcode_second_pass_quote('TreebeardsUncle', 'D')emand destruction in the industrialized world has been minimal so far.

[TreebeardsUncle]

Yes, DT, I agree that is indeed demand destruction. However, I still think it is minimal demand destruction. When millions of Americans aren't commuting 10s of miles alone in their cars on a daily basis to and from work but instead are living closer to work or using trains or motor-cycles in large proportions instead, then I will call that substantial demand destruction.