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Energy Department reports demand for oil is down.

Discussion in 'Prius, Hybrid, EV and Alt-Fuel News' started by Rybold, Jun 10, 2008.

  1. Rybold

    Rybold globally warmed member

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    "The Energy Department, in a monthly report, indicated that high prices are cutting oil consumption more than expected in the industrialized world. Consumption is now expected to fall by 240,000 barrels a day in 2008; last month, the department forecast consumption would be unchanged from 2007 levels."

    "The IEA, in its own monthly report, cut its demand growth forecasts, projecting that global demand for petroleum products such as gasoline, diesel and heating oil will grow by 0.9 percent, or 800,000 barrels a day, in 2008. That's down from the 1.2 percent, or 1 million barrels, the IEA forecast earlier this year."

    Keep trading in your SUVs for hybrids, everyone! :welcome:

    Oil reverses course, falls on strong dollar: Financial News - Yahoo! Finance
     
    #1 Rybold, Jun 10, 2008
  2. Tideland Prius

    Tideland Prius Moderator of the North
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    sweeet!
     
    #2 Tideland Prius, Jun 10, 2008
  3. Tech_Guy

    Tech_Guy Class Clown

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    With all due respect, a decline of only 240,000 barrels per day is just a drop in the bucket. To put things in perspective, the U.S. consumes between 20 - 21 million barrels of crude oil per day. Of that figure, we import approximately 13 million barrels per day.

    We have got to try harder... (Keep buying those Prius automobiles.)

    Keith
     
    #3 Tech_Guy, Jun 10, 2008
  4. Joe 26

    Joe 26 Member

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    I think when you balance that against the constant increases in consumption over the past years, it truly is remarkable to see an actual decrease!
     
    #4 Joe 26, Jun 10, 2008
  5. burritos

    burritos Senior Member

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    Did the Chinese consumption go up or down?
     
    #5 burritos, Jun 10, 2008
  6. Craig K

    Craig K New Member

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    This is great news. The sad part is that from a few people I have talked to dealerships aren't taking SUV'S for trade in's. They were told by the dealerships that they could never resell them so they would not take them. So what we need is an SUV recycling program. Melt them down and turn them into Prii. :)
     
    #6 Craig K, Jun 10, 2008
  7. Tideland Prius

    Tideland Prius Moderator of the North
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    That's true but let's not forget that the pop'ln isn't declining either so there is something offsetting our gross gains.
     
    #7 Tideland Prius, Jun 10, 2008
  8. hiremichaelreid

    hiremichaelreid New Member

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    There are some rebated recycling programs in Canada, and more are being considered: Clean Air Online -

    They seem to be getting aimed more at older, more polluting vehicles though, rather than newer gas suckers like SUVs.

    I doubt these programs would give more than $1-2K, but that's a start... :)
     
    #8 hiremichaelreid, Jun 10, 2008
  9. Rybold

    Rybold globally warmed member

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    "The IEA said demand for fuel for reconstruction work in the aftermath of May's earthquake will boost Chinese oil demand by 5.5 percent this year, a slightly higher forecast than in previous reports. "A 5.5 percent increase in one of the largest consumers of oil in the world is a lot of barrels of oil," Ritterbusch said.

    "Perhaps this explains why the "industrialized nations" are predicted to decline, yet "global consumption" is expected to increase by 0.9%.

    I'm sure a 5,000lb vehicle contains plenty of steel that can be easily removed from the vehicle. The frame, axles, struts, and drive shaft could be melted down directly off of the vehicle. The engine and transmission could be melted down after degreasing and removing an electrics plug or two. Those components account for a significant portion of the vehicle's weight!

    Let's start a rumor that SUV frames are made of copper, and are worth more when melted down. Haha.
     
    #9 Rybold, Jun 11, 2008
  10. MsDaisy

    MsDaisy Goddess of Green-land

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    And I haven't even gotten my Prius yet!

    I have definitely noticed a trend of more employees eating in our cafeteria instead of going out for lunch this week. I'm sure a lot of folks are foregoing those little daily jaunts in order to save some at the pump.
     
    #10 MsDaisy, Jun 11, 2008
  11. Rybold

    Rybold globally warmed member

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    #11 Rybold, Jun 12, 2008
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