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OIL Light Sweet Crude Elliott Wave update for week ending 12/5/2014
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2014 Dec 8, 8:23pm 1,402 views 7 comments
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tatupu70
2014 Dec 8, 8:29pm
If prices are falling then the consumption of those things is also declining
There are two variables that determine price--supply and demand. You can't determine what demand is doing without knowing supply.
Falling prices may be due to increased supply, not decreased demand.
darlag
2014 Dec 9, 8:41pm
There are two variables that determine price--supply and demand. You can't determine what demand is doing without knowing supply.
Falling prices may be due to increased supply, not decreased demand.
http://www.brookings.edu/blogs/planetpolicy/posts/2014/10/17-world-oil-demand-ebinger
http://www.businessinsider.com/opec-2015-oil-demand-is-set-to-be-weakest-for-12-years-2014-12
http://www.cnbc.com/id/102185253
While what you said is true, I was specifically talking about the current global condition which is as I presented it.
There are lots of other articles.
Tenpoundbass
2014 Dec 9, 11:40pm
CNN is reporting today about how OPEC should be cut lose, and Pickens said yesterday, "Oh who care's what OPEC says OIL is worth I say it's worth $500 a barrel to cheering roaring applauding bike riding morons and commodity investors.
Any other point in American history, all of the OPEC blowback to fix and raise prices back to the artificially inflated price, based solely on the rich are losing income. Would have resulted in a Rico Act investigation.
I wish we would take OPEC to court so the real charlatans and crooks would be exposed.
tatupu70
2014 Dec 10, 4:00am
I wish we would take OPEC to court so the real charlatans and crooks would be exposed.
Which court do you propose we take them to?
Oil has been in the news a lot lately. Gas prices have been falling alongside oil prices and the pundits and analysts appear confused as to why the price declines are happening. Of course, if you are an Elliott Wave analyst, you know precisely why prices are falling… deflation.
As the global economy slows, prices will continue to fall. Oil isn’t just used for gasoline. It is used in the manufacturing of practically everything today from automobile tires to composites to plastics and so much more including the specialized fuels to transport them around the globe. If prices are falling then the consumption of those things is also declining which means the GDP of the nations producing and shipping them is declining. Analysts are trying to spin the lower fuel prices as “good deflationâ€, saying things like lower income families will have more money to spend from gas price savings. But the reality is that deflation depresses wages, shrinks the tax base, and creates unemployment. Nothing good comes from deflation.
http://www.globaldeflationnews.com/oil-light-sweet-crudeelliott-wave-update-for-week-ending-1252014/