Interesting that significant increases in fuel prices have decreased demand but not to the extent one would think.  The same thing appears to hold true for grains.  Significantly higher prices have not rationed demand as it has in the past.  My own personal thought is that consumer use of credit cards has had as much to do with this as anything.   

The thing that makes this whole scenario more difficult to predict is that, in the past, the US demand has been the major factor in determining global energy prices.   With China and India becoming bigger factors, what happens in the US will not have the impact it once had. 

Thanks for sharing the article with us.