by copious.abundance » Thu 04 Dec 2008, 20:39:18
And I hate to say I told ya so, but I told ya so [emphasis added in bold, for you economic doomsday folks]
$this->bbcode_second_pass_quote('OilFinder2', '')$this->bbcode_second_pass_quote('jdumars', 'I')'m not saying I think the price of oil is going to go up forever. I am saying in theory it could. OF was so pedantic in his "explanation" of why oil was going to go down that I felt obligated to equally vehemently explain why he was wrong.
You gave me 3 friggin days of oil prices in Zimbabwe. Do you really think that's gonna go on forever?
BTW, when you get massive price rises like in Zimbabwe, here is the kind of demand destruction you get:
http://indexmundi.com/zimbabwe/oil_consumption.htmlEconomic destruction => demand destruction => eventual price destruction.Prices of something cannot rise forever any more than the population of lemmings in Alaska can rise forever. That's why I said ecology and economics obey the same rules. They do.