the visible hand

it is the theory which decides what can be observed – einstein

Oil Prices Detach From Demand in West

Posted by ecoshift on January 15, 2008

Oil Prices Detach From Demand in West
By NEIL KING JR. and SPENCER SWARTZ
January 15, 2008; Page A4

Oil prices have disconnected from demand in rich countries, showing how the global oil market has become unmoored from some of the factors that steered it in the past.

For decades, slumping oil thirst in North America, Europe and Japan has sent oil prices lower because these regions accounted for much of the growth in crude consumption. But now, oil prices are hovering around record highs even though demand is declining in the world’s top industrialized countries.

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