For both GGE and oil- small fall in Western demand- overtaken by ever greater oil demand from the bergeoning Asian Demand - Saudis promise to increase production as they have many times before- but it doesnt happen - and their reserves never decrease ( that is their claim ) - Iran selling oil for gold - oil is the new gold
nice little summary by Grant Williams with Jim Puplava
http://www.financialsense.com/financial-sense-newshour/guest-expert/2012/03/30/grant-williams/supply-is-now-dominant-factor-in-global-oil-price
increasing demand - falling supply
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