I think this is the beginnings of an economy based on perpetual growth and fossil fuel energy running headlong into geological energy constraints. Basically I see an undulatory downward path for the rest of my life. From here out, I think any rallies in our economic condition are going to be met with spiking commodity prices that knock us right back down.
Joined: May 26, 2004 Posts: 1195 Location: Zoorope
Posted: Thu Jul 15, 2004 8:21 am Post subject: Financial Times!
Read on a leading italian newspaper from Financial Times (no link-subscribers only):
- demand 82,5 mbd in 2005, 12 mbd more than in 1995;
- the growth in demand 1995-2005 (10 years) will be the same than in 1973-1995 (22 years)!
- China growth on oil consumes was 40% this year
- Demand is growing more rapidly than production
And last but most important:
Barclays Capital states that OPEC reduced of 4 mbd their extraction capacity last 18 months.
Better go gardening... _________________ **no english mothertongue**
--------
Objects in the rear view mirror
are closer than they appear.
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