Michael Gracie » demand http://michaelgracie.com Clever Tagline Unavailable At Publication Time Mon, 01 Dec 2008 20:43:27 +0000 http://wordpress.org/?v=2.6 en Are We in the Peak of an Oil Bubble? http://michaelgracie.com/2008/07/09/are-we-in-the-peak-of-an-oil-bubble/ http://michaelgracie.com/2008/07/09/are-we-in-the-peak-of-an-oil-bubble/#comments Thu, 10 Jul 2008 04:11:26 +0000 Michael Gracie http://michaelgracie.com/2008/07/09/are-we-in-the-peak-of-an-oil-bubble/

Oil Supply/Demand/PricePhysOrg does a good job of convincing, at least for the short to intermediate term.

Since 2003, worldwide oil prices have quadrupled. According to a new study, the price of oil is rising at a faster-than-exponential rate, and cannot be sustained. In other words, we’re in the midst of an oil bubble, say researchers Didier Sornette and Ryan Woodard of ETH Zurich in Switzerland and Wei-Xing Zhou of the East China University of Science and Technology in Shanghai, China.

Certainly goes against the previous note on the subject.

UPDATE: Gas consumption is dropping rapidly - high prices are the cure for high prices. When will the commodities markets come unhinged?

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