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Airlon,
Did your Hubert predicted when oil price will become so prohibitive that demand for it will decrease? No, but I did and I say it's now.
If I started to be careful at how much I drive, if truck traffick is already down 13% (yoy) in the US, then... what about the Chinese?
If it's too expensive, they will cut it, and it's valid for asphalt and linoleum too.
The only reason why oil stands at these price levels is that those who use it can afford it. Once they can't afford it anymore they will be forced not to use it.
Chinese will take their old bike and europeans will take the train (on electrified lines).
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