The decline in the price of oil – in the face of surging geopolitical pandemonium – has been lauded as indicative of both US’ awesomeness in energy independence and a tax cut for Americans… but, as the following chart suggests, there may be another – much more realistic – explanation for why oil is plunging… demand!
World GDP expectations for 2014 just tumbled to their lowest since estimates started…
Maybe – just maybe – that explains the price of oil…
Charts: Bloomberg
via Zero Hedge http://ift.tt/1tHC0hX Tyler Durden