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08/04/2010

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Roderick S. Beck

David,

That's silly. Equities are based on expectations of future growth. I would be shocked if oil prices were not highly correlated with equity prices.

The reason you gave up on neoclassical growth is that you didn't try very hard ...

:)

As for inventory levels, the data is weak and the US does not set the market all by itself.

By the way, you're populist message is misplaced. About half of the world's oil has been consumed. According to both CERA and the EIA,
most of the world's giant oil fields are in decline.

You have a naive opportunist to believe that oil could remain in the sub $15 range typical during the 90s.

Show me where the cheap oil is to be found ...

BP's drilling five miles below the sea surface?

Canadian tar sands?

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