a simple observation i have, is that from the people i know, they are driving more again.
which one could expolate to that most people a driving more............
end result....... more fuel consumption.
any one else drivng more?
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a simple observation i have, is that from the people i know, they are driving more again.
which one could expolate to that most people a driving more............
end result....... more fuel consumption.
any one else drivng more?
I like to look up IEA's charts occasionally to get a feel for whats going on...
USA is certainly suffering from a little demand destruction.
http://farm4.static.flickr.com/3185/...97dd9a79_o.gif
You can also see heaps of other countries too...however, some arent available due to lack of information.
This is for total fuel products...not sure how the number on the correlates, but just an example of whats available.
You can check for diesel, gasoline, heating etc...
NZ and Australia have had increasing demand over the period :)
Cant test diggers 'concept' as China doesnt have the full sets of data...
I don't think that the much-hyped "demand-destruction" will amount to much at all -
there is just no infrastructure in place to substitute for commuting by private vehicle in the near term.
Any alternatives will take decades to develop - by then we should be well past Hubbard's Peak and
it should be in clear view of everyone.
I've just been reading an article on MA Strategies in a Down Market. It pretty much plainly states that a well thought out acquisition strategy in a down market seperates the men from the boys. And that it leads to the long term creation of shareholder value.
I'll be very unhappy if NZO sit on my pile of cash, under the pretence of protecting the balance sheet. Especially while there are some absolute bargins out there.
Hmm - upside_mop source is interesting. Will delve into more charts from IEA - and contemplate. (so surprising USA figures nose dived as early as Jan 08) Still poses more questions than answers.
And Then Nita has the point avout unstable oil countries - True - another parameter of uncertainty.
Conclusion: 'Interesting' times ahead.
(Therefore I'm holding onto NZO - can't think of a better idea at the moment).
WTI $114.55 (up $10ish)
WTF just happened??
Nymex Crude Future 128.10 23.55 22.52 14:24
half an hour ago it was $113.88
Did all the oil dry up overnight?
McDunk - is this your doing ?
Oil spikes to $115 on banking rescue plan
http://www.upstreamonline.com/incomi...icle163637.eceQuote:
Oil rose more than 10% to $115, continuing a rally sparked by the US' rescue plan for its financial sector.
Sweeping government measures to rescue the financial system and restore confidence in shaky markets spurred gains across markets on Friday, when oil rose almost 7% to cap its biggest three-day rally in a decade.
US crude for October delivery rose $11.38 or 10.9% to to 115.93, a barrel by 1740 GMT -- the biggest gain since 22 June 1998.
London Brent crude traded up $6.11 to $105.72.
"The key driver continues to be the US rescue package which has changed the sentiment in the oil market," said Bank of Ireland analyst Paul Harris.
Oil has tumbled from record highs over $147 a barrel in mid-July, weighed down by growing evidence that high energy costs and economic woes were undercutting global fuel demand, said Reuters.
Further pressure came last week as financial sector turmoil sent investors out of commodities and into safer havens, sending oil to a seven-month low of $90.51 a barrel.
The slow recovery of the US oil sector after Hurricane Ike also supported prices, after causing the biggest disruption to the nation's energy supplies since 2006.
Nearly 90% of oil production in the US Gulf of Mexico, home to a quarter of all US oil output, remains shut along with seven refineries.
Oil prices were also supported by news China increased crude imports 11.54% in August from a year earlier, recovering from a steep July fall, the General Administration of Customs said on Friday, confirming earlier data.
"The Chinese import news is a sign of recovery, and a good indication that oil prices could get back up again." said Christopher Bellew of Bache Financial.
Industry sources also said that top oil exporter Saudi Arabia has trimmed oil supplies to international majors and US refiners since the start of September.
However, gains were capped by news that Nigeria's main militant group had begun a unilateral ceasefire yesterday after a week of clashes with the military and attacks on oil installations which cut output in Africa's top producer.