Commodity Futures File
Walt Breitinger

Crude Crashes as Demand Slides

Posted Friday, March 19, 2021, at 3:05 PM
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    >>Longer term, the IEA predicted gasoline demand would never return to pre-pandemic levels since the demand for electric cars will be increasing.

    That Paris-based organization seems to overlook how demand has nothing to do with forced attrition as the prior reflects a context where consumers have a choice. If manufacturers cease production of gas-powered automobiles by some date and time, that's not decreased demand. Rather, that's uninhibited market manipulation, and arguably, privatization of a transportation utility, which is just another pebble on top of the monopolization pile many have spent years trying to point out.

    To think manufacturers have climbed to such an extent of control as to determine for us what kinds of cars we're allowed to use is nightmarish at best, but to think the government supplies subsidies to finance it all, especially when considering the bailouts, is something else entirely.

    There's a difference between demand and "by force" and for anyone thinking our brave new world of our EV tomorrow will be better than today, see if you're still whistling that same tune after the government finds new and creative ways to tax you on EVs, when the utility companies are given more grease on their rate hike justification slide, or service providers and manufacturers get in bed with new ways to charge you for things ranging from proprietary charging penalties to various forms of maintenance and disposal costs. All of this after your first forced electrical service upgrades, of course... So by that measure, I guess we should also assume that high-end electrical services will increase in demand, too?

    What a crazy (and depressing) world we live in.

    -- Posted by DouglasQuaid on Fri, Mar 19, 2021, at 3:38 PM
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