Tags: Oil, Gas, Dollar, Us.

See why high oil will be back.

 

Submitted: Aug 8, 2008    Views: 112    Comments: 1    Likes: 1   


View Article: http://www.savingtoinvest.com/2008/08/oils-temporary-respite.html


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Sam Cass
Sam_Cass

I have to respectfully disagree with your analysis. Consumers have shown that they won't tolerate gas in the $4.00 range. At that price, demand destruction occurs not only in the US but on a global basis. It's this realization more than anything that has brought prices down.

China has subsidized its gas prices so consumers there have been relatively shielded from the rise in prices. That won't last forever. I believe that even at $120, the search for efficiency and alternatives is on, full force.

In the US, SUVs are dinosaurs and new hybrids are coming out that will get 100 mpg. Natural gas, which is plentiful in the US will become more widely used. Tar sand in Canada will be extracted at an even faster pace, and consumers will continue to make their homes more energy efficient.

In my opinion, oil will below $100 by January 09. It might not go much lower than that, it's clear to me that oil's days as our primary source of energy are numbered.

Posted: Aug 8, 2008



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