[quote=rydazzle][quote=DWCAP]I just wanna say that 2 months does not a bubble pop make.[/quote]
You are right, 2 months doesnt a bubble pop make, but a 45% drop in price does.
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Ok lets take off the dunce cap. Most oil experts put elasticity at around 10-20%. Now for extra credit tell me how much the supply/demand balance has to change to get a 45% drop. For extra extra credit tell me how much the balance has shifted over the past 6 months.