The Oil Drum continues their countdown to $200 oil

Among their well-presented and well-researched data, The Oil Drum says,  referring to the chart – does it look like prices are crashing?

So, at this point, I’m still happy to continue my “Countdown to $200 oil series” and see no reason why the recent lull in prices would be a sign of a serious trend change in the market.

In fact, I’ll say again that our energy policies should focus on one thing first and foremost: demand reduction.

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