[Free]

No joke, this is the headline of a story on CNBC Europe airing right now. The only reason for the outrageous claim that oil doesn't matter for the economy is that while oil went to a record high the DJ stayed approximately the same.
So much for PO awareness. Of course they talk about "doomsday scenarios" with the same tone as they would talk about some lunatic who claims the earth is flat. At the same time they claim the earth is flat. Isn't this insane? If it wasn't for billions of people who will suffer because of this dumbness it would be very very funny...

I am monitoring TV reports about oil prices and they are all the same: There is always an underlying nervosity, an undercurrent, you can even see their eyes flickering, as if they subconsciously know that everything they believe in is gonna crumble. Then they have some expert in the studio who blames the weather, the lacking refining capacity, or simply says it doesn't matter.

Eventually they even come to the conclusion that "demand is outstripping supply" and "price reduction will not come from more supply but from lowering demand" - without thinking this to the end! Next topic please! Like a horse who shys away from a path where it remembers a snake living! They see the equation, they do the conclusions, all but the last one. 1+1 = ??? Hello?

[ohanian]

Q: Does Oil matters?

A: Not to dumb Americans.

Q: How would the listeners know who the dumb Americans are?

A: They are the one who are asking "Does Oil matters?"

Q: You calling me dumb!!!!

[advancedatheist]

$this->bbcode_second_pass_quote('', 'E')ventually they even come to the conclusion that "demand is outstripping supply" and "price reduction will not come from more supply but from lowering demand" - without thinking this to the end!

[Sys1]

advancedatheist : you right. The best way to cut demand is killing billions. Sure i won't go to China... Even if my brother is studying in Beijing

[NeoPeasant]

$this->bbcode_second_pass_quote('Sys1', 'a')dvancedatheist : you right. The best way to cut demand is killing billions. Sure i won't go to China... Even if my brother is studying in Beijing

[Richard]

$this->bbcode_second_pass_quote('Free', 'I') am monitoring TV reports about oil prices and they are all the same: There is always an underlying nervosity, an undercurrent, you can even see their eyes flickering, as if they subconsciously know that everything they believe in is gonna crumble.