Unless we opt for a long term world wide recession, the world requires a lot more copper in the face of dwindling supply. This at a time when reduced US demand has already been baked in. Ramping up enery supply, regardless of source, requires huge investments in copper heavy infrastructure. Look beyond the US, where these investments are least likely, and you have a picture of major grid investments as well as major urban distribution buildouts. And there is no long term physical buffer to draw from. So, while there is no reason to expect $8 copper, expecting a strong US dollar and weak US growth to push copper back to $1.50 is both inconsistent and unrealistic. At the same time, a lot of historic copper supply came as a byproduct of other metals including gold, and that is not going to increase much given the small number of new mines. Shooting the gold messenger is bullish for copper.