I don't totally disagree. What people are forgetting is that China is starting to consume fuel at an insane rate and will continue to do so. Don't forget to factorfor inflation, and in some areas, $2+ per gallon taxes and you have a big part of it too. So demand IS up and supply is relatively stagnant.
As for te straights of Hormuz, a full 25% of all oil goes through there. Most of it to Europe. If Iran makes good on its threat we'll be exporting more oi to them.
ya know? i could agree with inflation bringing us to the 2.50 or so range. even with china expanding, i can only agree with that high though. if we had never allowed it to be traded as a commodity, then it would be no higher than 2.50....most probably slightly lower.
i don't know about elsewhere, but here in nj, the last i checked, taxes, both state and federal accounted for .75/gallon.
the supply isn't stagnant, oil isn't limited.....or at least not completely. and oil isn't dead animals, and dead trees.
as for iran? c;mon. i've seen your posts. you know full well(as do most on here) that they are not even in the realm of being capable of closing the straight. on the outside(by outside, i mean in the twilight zone) chance that they do, do you really think they'll keep it that way for more than about 6 hours?
