tag:blogger.com,1999:blog-14237465.post115871281731260711..comments2024-03-22T19:12:22.089+11:00Comments on One Salient Oversight: More evidence of a slowdownNeil Cameron (One Salient Oversight)http://www.blogger.com/profile/03143948543305522865noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-14237465.post-1159148516425845622006-09-25T11:41:00.000+10:002006-09-25T11:41:00.000+10:00Dang, I knew there was a flaw in my argument somew...Dang, I knew there was a flaw in my argument somewhere...Neil Cameron (One Salient Oversight)https://www.blogger.com/profile/03143948543305522865noreply@blogger.comtag:blogger.com,1999:blog-14237465.post-1159137921930255272006-09-25T08:45:00.000+10:002006-09-25T08:45:00.000+10:00Ah, no. You're both very wrong. The price of oil h...Ah, no. You're both very wrong. The price of oil has dropped because it no longer costs as much.This is mainly due to two factors:<BR/>1. It doesn't require as much mulah to buy it.<BR/>2. It costs less to buy.<BR/>3. It is now possible to fill er up and buy a couple o' tasty snacks - just like the ol' days...ah the memories...snickers really satisfies...as does premium ulp.Theteakhttps://www.blogger.com/profile/04607910963492143603noreply@blogger.comtag:blogger.com,1999:blog-14237465.post-1159134217553387992006-09-25T07:43:00.000+10:002006-09-25T07:43:00.000+10:00Not really. The fact that America discovered oil h...Not really. The fact that America discovered oil hasn't actually added to the supply just yet - it'll take them a few years to fully exploit this.<BR/><BR/>Oil prices are dropping at the moment because of two reasons:<BR/><BR/>1) A drop in the "risk" premium (no more invasion of Lebanon + no impending hurricane to destroy gulf of mexico oil infrastructure)<BR/><BR/>2) A drop in usage - there is an economic slowdown underway.<BR/><BR/>And as I stated in the first paragraph, "These numbers would not have taken into account the drop in oil price we have been seeing in the last 2 weeks."Neil Cameron (One Salient Oversight)https://www.blogger.com/profile/03143948543305522865noreply@blogger.comtag:blogger.com,1999:blog-14237465.post-1158997839186481172006-09-23T17:50:00.000+10:002006-09-23T17:50:00.000+10:00"Prices are dropping because there is a drop in de..."Prices are dropping because there is a drop in demand, because there is an economic slowdown."<BR/><BR/>Ah - no. Prices are dropping because the Yanks found more oil off their coast which could boost their reserves by 50% - speculative supply rose while demand remained constant. You missed the supply part of supply and demand.Ian Deanshttps://www.blogger.com/profile/04605779971801585345noreply@blogger.com