SIGNS ARE INCREASINGLY positive for the overall economy, but the energy outlook is a case of the Good, the Bad and the Ugly First, the good. At the time of this writing in mid-August, oil prices have risen above 70 dollars, But why, when oil demand has fallen off a cliff, are we seeing solid oil-price numbers? First, the Chinese economy stubbornly chugs along, with GDP growth at some 8 percent per annum. While that's dizzying relative to Western economies, it represents a major retrenchment from China's recent double-digit growth.
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