[LINK] baby boomer spending?

[Antony Barry]

On 28/02/2009, at 7:24 AM, stephen at melbpc.org.au wrote:

> Q. Many critics have noted it's easy to pick out specifics for any  
> given
> time and miscues in your predictions about how the stock markets are
> going to move or what will happen to the price of oil. Given that, how
> much confidence can readers have in your forecasts?


The price of oil is the big sleeper here. With the huge drop in  
revenue oil rich countries are going to have less to spend on  
expanding production when they are already starting to face much  
greater difficulty in finding new oil fields and rapid depletion of  
the old fields.

Just as we start to lift out of the recession/depression we will hit  
the production decline side of peak oil. An analysis with somewhat  
overwhelming detail is here <http://www.theoildrum.com/node/4820>.

Don't expect business as usual to return.

Tony

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