[finnbow]

Originally Posted by whell

The article I posted quoted the factors that the market analysts believe are impacting prices. Now, there's no question that demand is down, but the drivers for the reduction in demand that are impacting current pricing are apparently not, for example, pending CAFE standards. From the article:


Weak Europe weighs Brent

The IEA's supply forecast is "piling on'' already weak economic data from Europe, said analyst Phil Flynn of Prices Futures Group in Chicago. " Numbers out of Europe show deflationary pressures are extending even into the UK."

Germany's economy could shrink in the third quarter, but any recession, as defined by two or more consecutive quarters of declining output, should not last long, the chief economist of think tank ZEW said.

And the current economic downturn in Europe resulted from their "austerity" approach to recovery from the last downturn (the incorrect approach also supported by the GOP).