by Pops » Sun 03 May 2015, 14:44:11
LOL, you might go out on that limb ...
But I gotta tell you, I'm feeling a little dizzy ...
The whole point of this thread was to argue against the idea that oil prices will never recover, which came from a post by your guy. LOL.
Consumption was falling when prices were high, it is rising now that prices are "low" — relatively speaking, due to some slight surplus of supply and the speculative nature of oil markets.
So, yes, high prices will return with higher demand.
Which not coincidentally puts the lie to the assertion that oil is somehow losing value and that has caused the price drop. The value of oil is and will continue to increase as we waste less: more utility = more value : use less/pay more.
But the stickiness of sensational predictions never ceases to amaze me.
Which isn't to say that the economy is not FUBAR (and repair) but merely that there has not been a dramatic, fundamental shift in the value of oil.
The legitimate object of government, is to do for a community of people, whatever they need to have done, but can not do, at all, or can not, so well do, for themselves -- in their separate, and individual capacities.
-- Abraham Lincoln, Fragment on Government (July 1, 1854)