While I’m not sure I believe the number, I do believe that Saudi Arabia can expand output. In addition we have seen radical changes in both fuel efficiency, and supply production, particularly with development of the fracking business. If China slows down, and if the United States get’s more aggressive on utilizing natural gas as opposed to crude oil, I think we could see energy prices normalize to a less detrimental level for the non-energy economy. I have no idea why we aren’t getting more aggressive in adopting natural gas as our fuel of choice as it is one of my biggest political gripes.
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