Re:U.S. is now the world’s biggest oil and gas producer
by foobarbazqux on Monday October 07, 2013 @09:56AM
(#6508221)
I wouldn't say that oil demand has peaked from looking at that graph. I'd say it took a big hit right around the time of the 2008 financial crash and is recovering along with the rest of the economy, or perhaps lagging somewhat.
[ Parent
| on HN ]
Re:U.S. is now the world’s biggest oil and gas producer
by joshuahedlund on Monday October 07, 2013 @10:07AM
(#6508296)
There's definitely a hit from the financial crash, but there's also been no increase since that drop for four straight years, during which the economy has presumably been recovering, albeit slowly; I suspect the decrease in retiring Boomers driving, decrease in new teenagers driving, increase in fuel efficiency, increase in non-driving entertainment like social networks, etc are all outweighing the hundreds of thousands of jobs that have been created since then. The huge growth in electric vehicles in the last 2-3 years[1] is probably to small to have an impact on that graph now, but give it a few more...
[1]http://si.wsj.net/public/resources/images/IV-AA467_ECARS_G_2...
Re:U.S. is now the world’s biggest oil and gas producer
by specialist on Monday October 07, 2013 @10:47AM
(#6508558)
Historically, GDP has been strongly correlated with fossil fuel consumption.
I've been wondering if that's still true.