Us No Longer In Charge Of Oil Demand

[Mega]

http://www.bloomberg.com/apps/news?p...05g&refer=home

DE-coupl-ing as what Schiff sez i think!
Way to go Peter!!!!!
Mike

[Guest]

Re: Us No Longer In Charge Of Oil Demand

This thread is going to have C1ue grinding his teeth. I guarantee it!

[touchring]

Re: Us No Longer In Charge Of Oil Demand

They are producing $2000 cars in India, hell even if you earned $300 a mth, you can afford it. And yes, it still consumes oil, even if at half the rate of an SUV.

In china and india, a car is a showoff thing, people will buy and use even if they can barely afford it. It will take $200 oil to stop the demand.

[GRG55]

Re: Us No Longer In Charge Of Oil Demand

They are producing $2000 cars in India, hell even if you earned $300 a mth, you can afford it. And yes, it still consumes oil, even if at half the rate of an SUV.

In china and india, a car is a showoff thing, people will buy and use even if they can barely afford it. It will take $200 oil to stop the demand.

Agree with all you say except last sentence I am not sure. How do we know? We heard the same thing at $35, $50, $60, $80 and $100. In early 2004 the pundits were predicting a total collapse of the OECD economies along with China and India if oil went over $50 and stayed there.

No doubt consumption already being rationed for those that cannot afford the current price, but every day somebody, somewhere is buying some physical at the prevailing spot. It's not just a bunch of NY hedge fund speculators as the politicians would have us believe.

[GRG55]

Re: Us No Longer In Charge Of Oil Demand

They are producing $2000 cars in India, hell even if you earned $300 a mth, you can afford it. And yes, it still consumes oil, even if at half the rate of an SUV.

In china and india, a car is a showoff thing, people will buy and use even if they can barely afford it. It will take $200 oil to stop the demand.

And this sort of thing doesn't help either...

Nippon Yusen's Oil Tanker Hit by `Rocket' Off Yemen

By Taku Kato and Shigeru Sato



April 21 (Bloomberg) -- A Nippon Yusen K.K. crude oil tanker was fired upon by a small boat off the coast of Yemen. There were no injuries.

The oil carrier named Takayama was hit at 4:40 a.m. Yemeni time by a ``rocket-like weapon'', the Japanese Coast Guard said today in Tokyo. The vessel, which carries a crew of 23 and is able to steer on its own, left the South Korean port of Ulsan on April 4, Nippon Yusen said in a statement on its Web site.

The attack may spur crude oil prices to records, said Hidetoshi Shioda, a senior energy analyst at Mizuho Securities Co. Crude rose above $117 a barrel for the first time in New York after OPEC said it will maintain production, rejecting calls from the U.K. and Japan to boost output.

``Shipping companies may refrain from their operations in the Middle East depending on the seriousness of the attack,'' Shioda said in Tokyo. ``Any adverse impact on shipping operations could disrupt oil supply to North Asia.''

The tanker was attacked when it was in the Gulf of Aden heading for the port of Yanbu, Saudi Arabia, to load crude oil. The crew found a hole the size of a finger in the fuel tank, which is leaking, the Coast Guard said at a briefing in Tokyo. The crew has not been able to inspect the exterior of the ship.

Crude for May delivery rose as much as 71 cents, or 0.6 percent, to $117.40 a barrel in after-hours electronic trading on the New York Mercantile Exchange, the highest since futures started in 1983. Oil traded at $117.27 at 9:13 a.m. in London.

Takayama, built in November 1993, is a Very Large Crude Carrier, also known as VLCC, which can carry about 2 million barrels of oil. It was not carrying oil when it was attacked.

Nippon Yusen rose 1.2 percent to 999 yen at the close of trading in Tokyo.
http://www.bloomberg.com/apps/news?p...d=a8sd5blxNtGE

[Guest]

Re: Us No Longer In Charge Of Oil Demand

So much for collapsing global oil consumption as the US "stumbles"

China, India, Russia and the Middle East for the first time will consume more crude oil than the U.S., burning 20.67 million barrels a day this year, an increase of 4.4 percent, according to the International Energy Agency in Paris. U.S. demand will contract 2 percent to 20.38 million barrels daily, the IEA says. Economic growth of more than 8 percent in China and India, coupled with increasing car ownership among the countries' combined populations of 2.45 billion people, will more than compensate for falling U.S. demand. Oil use worldwide will increase 2 percent this year because of growth in emerging markets, the Paris-based IEA says.

– Bloomberg

Automakers issued ambitious forecasts Sunday of up to 65 percent sales growth in China's booming market this year – a striking contrast to the gloom in the United States and elsewhere. Sales of some individual models to newly prosperous Chinese drivers soared by up to 100 percent in the first quarter over the same period of 2007, said executives speaking at the Beijing auto show. Toyota Motor Corp. expects to sell 700,000 vehicles in China this year, up 40 percent from 2007, executive Yuzo Ushiyama said. Daimler AG said Mercedes-Benz sales in China rose 42 percent in the first quarter. That included a 110 percent jump in sales of the R-class minivan.

– AP

[touchring]

Re: Us No Longer In Charge Of Oil Demand

And this sort of thing doesn't help either...

Nippon Yusen's Oil Tanker Hit by `Rocket' Off Yemen

Wow nice, the speculators have evolved one step further, they are in collusion with the militants! :eek:

[alcyone]

Re: Us No Longer In Charge Of Oil Demand

If you haven't seen it, I would suggest you all watch - A Crude Awakening: The Oil Crash. It is now on Directtv and can also be ordered from Netflix.
What will become immediately obvious is that we are now on the other side of Hubbert's Peak and energy costs will not be going down. In the regular course of events gasoline could be $40 to $50 per gallon in 5 years, and a lot quicker if Saudi Arabia becomes politically unstable. All of the problems of Banking and Markets will turn on this reality because business as usual will never again be the same. What you are seeing today with food riots and countries witholding rice exports will soon extend to oil. You have in the last few days heard King Abdullah say: : “I keep no secret from you that when there were some new finds, I told them: ‘No, leave it in the ground, with grace from God, our children need it’.”
It is time for a new business paradigm that recognizes this reality and does not run mindlessly into past economic strategies, like Ben Bernanke is doing, to recover what no longer works and in no longer relevant.

[GRG55]

Re: Us No Longer In Charge Of Oil Demand

Wow nice, the speculators have evolved one step further, they are in collusion with the militants! :eek:

And I thought it was the alt-energy VCers that were responsible...:rolleyes:

[ax]

Re: Us No Longer In Charge Of Oil Demand

Just curious as to what gas price it would actually take to get people here (iTulipers) to really reduce/stop driving. It would probably take $8/gallon for me to alter my daily life.

[Jim Nickerson]

Re: Us No Longer In Charge Of Oil Demand

Just curious as to what gas price it would actually take to get people here (iTulipers) to really reduce/stop driving. It would probably take $8/gallon for me to alter my daily life.

I altered how I use my 4Runner when gasoline hit 2.299/gal. for me on 7/30/05, and actually back to 2000 I stopped once to twice daily trips to the park to walk my dog--6 miles roundtrip. Dog pees on the adjacent 3 blocks either way of our house just as well as he ever did in park. No longer drive to DFW, but take train, more time but total cost 4-5$ roundtrip.

We don't do anything of necessity to spend less, we just attempt to buy what we need and not waste stuff.

[c1ue]

Re: Us No Longer In Charge Of Oil Demand

China, India, Russia and the Middle East for the first time will consume more crude oil than the U.S., burning 20.67 million barrels a day this year, an increase of 4.4 percent, according to the International Energy Agency in Paris.

Ha ha, so what.

So 2.5 billion people now consume more oil than the 0.33 billion in the US.

The rest of the world has pretty much always consumed more oil than the United States - this statistic is completely stupid.

The question is this: if the US economy collapses, what is the consumption collapse effect of that 0.33 billion? Certainly from a minimum lifestyle point of view, there is FAR more latitude in the 0.33 billion side than the 2.5 billion side; just as 100 rich people making a total of $100M/year vary their spending patterns much more than 100000 people making a total of 100M/year.

More pseudo-facts from morons.