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Originally Posted by Butterfly  but you said earlier, that nothing will stop oil from rising because of China and India ? are you suffering from short term memory loss troll ? or being caught in your lies and deception again and changing your tunes ? you are fucking priceless, you know that  |
Oh get a brain. The consumption from Chindia is increasing rapidly and, indeed has increased massively to date. Short-term, the resultant rise in oil price is being pared back by the collapsing US economy, however, when either:
Chindia's rising consumption outstrips US decline
or
US Economy recovers
The rise in price will continue. Unless production is increased significantly (and remember that has stagnated and marginally reduced since 2005).
And there's the rub. The 2008 production numbers are key. Unless the supply shows an increase from the 05/06/07 figure, we have to assume that they cannot increase production (based on the assumption that if you cannot increase at a time of a market price IRO $140/barrel, then you cannot increase production at all).