Oil Price Plunge? It’s The Global Economy, Stupid!

Oil Price Plunge? It’s The Global Economy, Stupid! (ZeroHedge, Sep 12, 2014):

The decline in the price of oil – in the face of surging geopolitical pandemonium – has been lauded as indicative of both US’ awesomeness in energy independence and a tax cut for Americans… but, as the following chart suggests, there may be another – much more realistic – explanation for why oil is plunging… demand!

World GDP expectations for 2014 just tumbled to their lowest since estimates started…

20140912_oil

Maybe – just maybe – that explains the price of oil…

Charts: Bloomberg

1 thought on “Oil Price Plunge? It’s The Global Economy, Stupid!

  1. Without demand, there can be no market. People I know, including myself, who used to drive every day, now work from or close to home………it has become a lifestyle change. People are learning to plan their trips and errands to economize. Gasoline has gone up over 300% since the current idiot took power, and they do nothing to galvanize the real economy into life, only enrich a few greedy guts at everyone else’s cost.
    There are no opportunities, millions of scams, and no recourse for those who get stung in false business offerings or investments…….this is no longer a nation of law, it is like any third world country, even the cops hold up people and steal their belongings.
    The US has become like Mexico….travel at your own risk.
    They look for ways to nail motorists, seat belts, phones…..you name it…..a government against the people for and by the greedy guts.

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