ggm only needs one fact to support his argument: the current price of oil is $63. That says two things: - it's cheap therefore the market thinks it's abundan

ggm only needs one fact to support his argument: the current price of oil is $63. That says two things: - it's cheap therefore the market thinks it's abundant - $63 is less than the Venezuelan cost of production. More supporting facts: Gasoline demand is dropping in China despite the Chinese buying cars at a very quick rate. But oil demand is flat because petrochemical demand is increasing.