by f2tornado » Wed 30 Jul 2008, 11:24:20
$this->bbcode_second_pass_quote('dukey', 'i') think people are mistaking demand destruction in the US (with regards to oil) for simply the economy melting down
Hard times or good times, demand destruction is what it is. The converse of what you say is
people are mistaking increased oil demand simply due to economic expansion. As a third grader would say, "duh". Some people here are confusing demand destruction with economic substitution. You can drive a little less and still buy your $4 Starbucks latte which is oil demand destruction.... or you can drive the same amount but forgo the latte. That is economic substitution (or Starbucks demand destruction). No doubt both are happening right now. As for the poster rooting for Starbucks to simply go away, well, I doubt the brand disappears but there will be 600 less locations to buy your brew.
Lastly, I am not seeing an economic meltdown. What I see are people buying iPhones, Nintendo systems, fuel efficient cars, landscaping, and all kinds of other items you throw disposable income at. Perhaps I'm seeing the world through rose colored glasses as my state of North Dakota is having nothing short of an economic boom with high crop prices, home prices still rising, and a labor shortage.