David Rosenberg Energy Quotations

The primary driver of this slowing is consumer spending. Spending will be hurt by continued elevated energy prices and a slowing in housing.

We estimate the near-term loss in terms of output, employment and income in the affected area coupled with the surge in energy costs that impacts everyone will offset any future rebuilding by a factor of two to one.

Energy and raw material demand in China has been one of the key drivers behind the strength in commodities. If China is raising rates and trying to slow growth, then we may see some tempering in those pressures.

There is the pre-Katrina economy and the post-Katrina economy. Any number that's going to be important for stocks and bonds is not going to be in government reports. The most important data near-term are going to be energy futures. Those are going to be key indicators as far as interest rates are concerned.

I'm not seeing any sort of big broadening out of inflation from the energy side. That's probably the overriding story.

For now we are assuming that the energy shock will dominate, suppressing growth in both 2005 and 2006. And the implications for earnings are negative.