Wednesday, April 14, 2010
IEA: World oil demand to hit record high this year/NVDL: No it won't
SHOOT: Why won't oil demand reach a peak? Because the economy, and economic reality won't let it. I think we'll see the beginning of a recovery and 'business as usual', but reality will set in as defaults [this is soveriegn, national defaults, not just banks] weigh in, and of course energy prices themselves from here on out are poised to kill demand. Demand destruction is the same thing as wiping out the middle class, a symptom of Permament Contraction which is of course a manifestation of Peak Oil.