>Recently the demand level has gone way down here (a first) as a result of the higher prices

In US $, for the rest of the world the sliding greenback damped the raise

>(according to experts and media sources) and we have been preached to for years that the only way to bring oil prices down is to decrease our demand yet the prices are still expected to double during the next year. I suspect demand has gone way down around the world as well as a reflection of the high prices.

Whenever in a bottleneck resource the affordable price is raised, it stays up. So either the industrialized nations will declare foreign oil a commodity THEY are free to price and back that up with force and blatant stealing or technical breaktroughs in manufacturing solar cells will put a clear border on price for energy in it's pure form. Oil price will be driven by the need as a base for synthesics and the higher cost of using regrowing resources for that.

>
>
>>>SNIP
>>>>Where outside of the US is it prohibited from increasing supply?
>>>>
>>>>Has demand grown 40% this year?
>>>
>>>So much for supply and demand:
>>>
>>>As expected, the IEA cut slightly its forecast for annual oil demand growth, but surprised the market with a deep reduction in its forecast for supply growth from non-Opec nations, leaving the world more dependent on the producers' cartel.
>>>
>>>http://money.ninemsn.com.au/article.aspx?id=577986
>>
>>Where do you see suplly and demand rules broken ? Base your assumption on limieted resources
>>and the current price is actually LOW if seen as percentage of alternate energy replacement.
>>So "hoarding" comes into play (price increases > tenfold of usual price are often seen after
>>after natural disasters) as the suppliers realize that they are selling a non-replaceble resource
>>clearly under value.