[galahad05]

Originally Posted by Majikthese42

Let's ask T. Boone Pickens where it's headed:

http://www.cnbc.com/id/15840232?video=747990771

Demand will go down as the price raises. Always happens. In fact, it happened in the '70's OPEC-initiated oil embargoes.

Indeed, it's happening right now. Counteracted by rising Asian demand for the moment (subsidized oil to their populace). Once those governments drop their subsidies--which they'll have to because of the sheer cost of this--we're talking tanking demand.