Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Yes, I see your previous post--and my clever comment! My point, regardless of whether the curves of supply/production or demand/consumption are theoretically  or practically correct, is that there is an assumed price for oil in, say, 2020, that is not exposed in Jerome's chart.

Who cares if there is plenty of oil to be burned if it costs $1000 per barrel? Who cares if I am forced to turn off my furnace and never travel? I'm sure that the millionaires in China will be driving around in their Buicks.

General Motors says it has become the first global automaker to sell 2 million vehicles in China in a single year.But the bigger news is GM is on track to sell more cars in China than in the U.S. this year.

Through October, GM has sold 1.8 million vehicles in the U.S.October sales of Shanghai GM's Buick brand jumped 35.7% on an annual basis to 54,490 units. Demand for both the new LaCrosse sedan, seen in that photo above, and the smaller Excelle, known as the Regal in the U.S., rose more than 40% year on year.

http://content.usatoday.com/communities/driveon/post/2010/11/gm-general-motors-china-buick-lacrosse- regal/1

by asdf on Thu Nov 11th, 2010 at 01:22:40 PM EST
[ Parent ]

Others have rated this comment as follows:

DoDo 4


Top Diaries

Occasional Series