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Two things: a) oil != gasoline http://www.ranken-energy.com/Products%20from%20Petroleum.htm http://www.ranken-energy.com/Products%20from%20Petroleum.htm b) De
by klochner 16y ago
Two things:
a) oil != gasoline
http://www.ranken-energy.com/Products%20from%20Petroleum.htm http://www.ranken-energy.com/Products%20from%20Petroleum.htm
b) Demand destruction doesn't preclude $500/bbl crude, it just means that when oil hits $500 there won't be nearly as many products that are dependent on it.