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Greg Hickey

Dave, I also have been watching the spreads between Brent and WTI. I've read reports that the lower prices in the US are due to oil coming down from Canada.
Usage in the US may be lower than normal, but I believe it is rebounding, as evidenced by the uptick in gasoline price at the pump.
One point I would like to make is that the US may enjoy a "comparative advantage" in the price of energy for some time. If our next door neighbor can sell us energy cheaper than the rest of the world, we may see a pick-up in our economy. Even as we devalue our currency. This should increase exports, put price pressure on imports and maybe bring some jobs back to this country as banks restart lending as economic activity improves. My hope is that we will not squander this window in time, and will use the opportunity to invest in renewables and conservation.

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