US oil demand has never recovered

From a good post by Mish on how overpriced oil is at $100:

High oil prices, like high metal and food prices, are just a result of a carry-trade gone wild.

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2 thoughts on “US oil demand has never recovered

  1. While Mish’s chart is quite informative re: the demand side of the equation, I would argue that the rise in oil prices is predicated at least as much on the SUPPLY side. Thus, even if consumption (demand) is not where it used to be, it is still rational for the price to rise given the dwindling supplies and the uncertainty in the market around this supply, exacerbated by idiotic domestic energy policy.

  2. ?
    petrol UK sells soon for$8/gal, in U S $5/g
    Prof: “W. gov’s borrow to pay only int, cant pay prin.
    U . + S. total pub pv debts c$200t. two hundred tril=tom
    , gdp us$14/t/y, or 13x gdp “

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