On Sat, 25 Jun 2005 16:32:50 GMT, "Doug Kanter"
wrote:

"John H" wrote in message
.. .


Let's assume that it's something people normally want ALL the time, John.
Coffee, shoes, whatever. Don't hand me junior high school economic
theories.

Well, if we assume the demand hasn't changed, and the supply has
diminished,
then prices will go up.

In the case of oil, the demand has greatly increased over the past several
years
(almost as bad as outsourcing!).

The junior high economic theories are, at least, rational.

In case Fruitz pretends not to notice the question I just asked him, I'll
ask you: Please indicate specifics as to WHERE you believe this increased
demand is coming from. If you choose to repeat "China...", as others have,
please provide data.


Here's another, just in case you still believe in the 'mythical china' theory:

"Yang isn't the only one made uncomfortable by his globetrotting. CNOOC's
aggressive efforts to secure reliable supplies of oil and natural gas around the
world reflect just how strong China's thirst for fossil fuels has become.
Motorists bemoaning high prices at the pumps—oil rose to a record $55 a barrel
on Oct. 15, up 65% this year—can with some justification point an accusatory
finger toward the mainland. Its booming economy and burgeoning appetite for cars
and other modern conveniences have caused energy demand to soar. China's oil
imports doubled over the past five years and surged nearly 40% in the first half
of 2004 alone. These increases vaulted the mainland ahead of Japan and into
second place among the world's biggest oil consumers, behind only the U.S.

Of course, there are numerous other factors driving the price of crude, among
them supply hiccups caused by chaos in Iraq, political and economic turmoil in
oil-producing nations such as Nigeria and Russia, hurricanes in the Gulf of
Mexico, and fears of terrorism. "It is neither fair nor accurate to blame China
for most of the rise in oil prices," says Jeffrey Logan of the Paris-based
International Energy Agency (IEA). But with oil in short supply—currently,
producers are pumping just 1 million barrels more than the 81 million barrels
being consumed worldwide every day—growing demand from China is clearly having
an unwelcome impact. The country accounted for about one-third of the increase
in world oil consumption this year, more than any other single nation."

From:
http://www.time.com/time/asia/magazi...725174,00.html

Note, China's oil imports rose by 40% in the first *half* of 2004 alone!

Now, perhaps you'll be so kind as to show me the data supporting the 'Bush
deficit did it' theory.
--
John H

"All decisions are the result of binary thinking."