POP growth = demand for oil
"Human numbers increase by over 228,000 every 24 hours (Population Reference Bureau). Every minute, 150+ additional people need energy, water, food, and space to inhabit. By year’s end, that results in a 83 million person increase. Obviously, it also creates demand for a significant amount of new resources the Earth must yield."
These low prices aren't here to stay, its just an over reaction....... demand for oil is still here, isn't going anywhere.... but higher.
-83 million extra people every year! thats more than double the size of Canada's population.
-China/India still GROWING... not contracting, just not at the same pace (predicted 5.5% 2015 vs 7.7% 2014)
-USA still consuming 18-20 mil barrels a day (Q4 2012 was 18.2 mil per day vs Q4 2014 of 19.2 mil per day.....peak was Q4 2005 21.4 mil per day)
-Middle class wealth in China and India have discretionary income to spend on cars, or other oil related products.
-USA economy is booming = demand for oil
Ride out the storm.... I'm betting WTI is above 75+ in spring