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Oil Crash: Supply Or Demand?

|| By FITSNEWS || Remember the “everything is awesome” crowd?  You know, all those economists who told us low gas prices were going to stimulate a “consumer renaissance” in America?  And that 2015 was going to be the year our economy started firing on all cylinders again? Yeah … that…

|| By FITSNEWS || Remember the “everything is awesome” crowd?  You know, all those economists who told us low gas prices were going to stimulate a “consumer renaissance” in America?  And that 2015 was going to be the year our economy started firing on all cylinders again?

Yeah … that didn’t happen.

Anyway, that crowd now wants us to believe lower gas prices are the result of too much supply … as opposed to not enough demand.

Is that true?

LOL …

(Click to enlarge)

oil supply demand

(Chart via)

According to a Bank of America analysis, “over the past month … falling oil prices have all but reflected weak demand.”

“The global outlook has indeed worsened,” Bank of America’s assessment added. “Our economists have recently trimmed GDP forecasts in Japan, Brazil, Mexico, Colombia and South Africa, while noting greater downside risks in Turkey due to political uncertainty. Asian exports continue to underwhelm, and capital outflows are adding to regional woes.”

Bottom line?

“Global headwinds have intensified,” the bank’s analysts noted.

Ya think?

***

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13 comments

Rocky Verdad August 21, 2015 at 4:26 pm

That’s a lie. Sean Hannity always says, gas prices are driven by supply. Drill drill drill

Reply
Panic for a legacy August 21, 2015 at 4:39 pm

Wonder why Obama was so eager to give Iran Nukes, and lift the oil sanctions and flood the market, as the 2016 Referendum on his presidency nears?

But: People know who you are, and what you did. I don’t think it will work. Just look at Hillary’s collapse.

Reply
Watching a Republican Lie August 21, 2015 at 8:51 pm

A Lie

Reply
You're delusional, in denial August 22, 2015 at 8:35 am

A delusion.

Reply
Watching a Republican Lie August 22, 2015 at 10:58 am

Lies and more lies.

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Obama a BIG Mistake August 21, 2015 at 4:36 pm

Hmm…so it’s actually the $3-plus a gallon for Obama’s first 6 years that had BIG INVESTMENT getting fatter and propped up the Stock Market..

Then why did Obama take $4.5 Trillion of OUR money and give it to Wall Street?

What a wasteful fucking MISTAKE the Democrats and Obama are.

Reply
Watching a Republican Lie August 21, 2015 at 8:52 pm

Another Lie

Reply
You deny EVERYTHING August 22, 2015 at 8:33 am

You call anything you can’t accept “a lie” regardless of its veracity.
The economy is broken, and has been Obama took office. He’s just made it worse, and I really don’t think he cares, as long as he can force his laws on the Americans he hates.

Reply
Watching a Republican Lie August 22, 2015 at 10:57 am

More Lies.

Reply
STFU August 21, 2015 at 11:17 pm

BigT

Reply
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Reply
ernesto August 23, 2015 at 8:46 am

When capitalism shuts down and only maximizes profits by buying back stocks and giving out big dividends to their small oligarchy of investors it is like your swimming pool pump running without water, overheating and breaking down. The water metaphorically speaking are future investments like new factories and products which are currently not being pursued. Global capitalism is in a serious crisis and with interest rates close to zero and states in huge debts there us no easy way out by providing financial jolts to the system.
But you guys want to worry about building a wall and get Mexico to pay for it, not allow women to have abortions and bash gays. US And global capitalism is going into it’s next big crisis and one day the wagons will get unhitched and you end up As a big wasteland of shopping malls where nobody can buy anything anymore. Loosing the dollar as a lead currency is the next step.

Reply

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