xcel
11-06-2008, 07:05 AM
"North America has started on a multiyear journey toward higher fuel efficiency in transportation." (http://www.cattlenetwork.com/Content.asp?ContentID=266529)
http://www.cleanmpg.com/photos/data/501/Oil_Pump_at_twilight.jpgDow Jones – Nov. 5, 2008
Pump Jack at twilight.
Fortunately this will ease the supply concerns, place $’s back in consumers pocket and lower our trade deficit. If we do not blow it! -- Ed.
NEW YORK -- For years, rising global oil demand was as predictable as the seasons. Not anymore.
A starker economic outlook has some high-profile energy analysts predicting the world will consume less oil next year than this year, notching the first annual contraction since the early 1980s as emerging markets, led by China, cool off.
"We're in a new world now," said Kobi Platt, an economist with the Energy Information Administration, the analytical and statistical wing of the U.S. Department of Energy.
Demand in the most industrialized countries, static for years, tanked as oil soared to new heights this year. Even with U.S. gasoline now 42% cheaper than its July extremes above $4 a gallon, soft demand is expected to linger.
Against this backdrop, the world's oil-demand engine was supposed to be heavy industrial fuel needs and growing auto ownership in emerging markets, some of them enriched by oil exports. For the next several months, at least, that scenario is falling apart as the financial crisis bleeds across borders and challenges the theory that emerging markets have "decoupled" from highly developed ones. While expected to grow, emerging-economy demand may not offset declines elsewhere…
Shrinking demand could make it tougher for the Organization of Petroleum Exporting Countries to install a floor under oil prices that are now less than half of all-time highs above $145 a barrel. OPEC started to rein in supplies this fall, and could go further in a meeting Dec. 17… http://www.cattlenetwork.com/Content.asp?ContentID=266529
Thanks for the find Bob!
http://www.cleanmpg.com/photos/data/501/Oil_Pump_at_twilight.jpgDow Jones – Nov. 5, 2008
Pump Jack at twilight.
Fortunately this will ease the supply concerns, place $’s back in consumers pocket and lower our trade deficit. If we do not blow it! -- Ed.
NEW YORK -- For years, rising global oil demand was as predictable as the seasons. Not anymore.
A starker economic outlook has some high-profile energy analysts predicting the world will consume less oil next year than this year, notching the first annual contraction since the early 1980s as emerging markets, led by China, cool off.
"We're in a new world now," said Kobi Platt, an economist with the Energy Information Administration, the analytical and statistical wing of the U.S. Department of Energy.
Demand in the most industrialized countries, static for years, tanked as oil soared to new heights this year. Even with U.S. gasoline now 42% cheaper than its July extremes above $4 a gallon, soft demand is expected to linger.
Against this backdrop, the world's oil-demand engine was supposed to be heavy industrial fuel needs and growing auto ownership in emerging markets, some of them enriched by oil exports. For the next several months, at least, that scenario is falling apart as the financial crisis bleeds across borders and challenges the theory that emerging markets have "decoupled" from highly developed ones. While expected to grow, emerging-economy demand may not offset declines elsewhere…
Shrinking demand could make it tougher for the Organization of Petroleum Exporting Countries to install a floor under oil prices that are now less than half of all-time highs above $145 a barrel. OPEC started to rein in supplies this fall, and could go further in a meeting Dec. 17… http://www.cattlenetwork.com/Content.asp?ContentID=266529
Thanks for the find Bob!