Even assuming that best-cast of flat supply won't demand keep growing?
I haven't done the numbers but China is sitting on huge dollar reserves which it can use to keep bidding up the price so that the squeeze falls on everyone else, particularly us. It's true that will reduce our ability to buy their stuff but what other choice do that have?
That's the scenario which worries me.
NYMEX crude index 91.10. It’s like the dungeon master got a cell call during waterboarding and the prisoner gets to breathe without anxiety for a while.