Well that's that solved then, phew! Oh, there's a whole bunch of countries who aren't yet 'developed' and want to be?
Back to the drawing board, fellas.
Excerpt from Planet Ark, 29 January 2010
'Oil use in rich industrialized countries will never return to 2006 and 2007 levels because of more fuel efficiency and the use of alternatives, the chief economist of the International Energy Agency said on Thursday.
The bold prediction, while made previously by some analysts, is significant because the IEA advises 28 countries on energy policy and its oil demand forecasts are closely watched by traders and policymakers.
"When we look at the OECD countries - the U.S., Europe and Japan - I think the level of demand that we have seen in 2006 and 2007, we will never see again," Fatih Birol told Reuters in a telephone interview.
"There may be some zig zags up and down but as a trend I think it will be a downward trend in terms of oil consumption."..
In its January 15 monthly Oil Market Report, the IEA forecast OECD demand would average 45.48 million barrels per day (bpd) in 2010, unchanged from 2009. World demand is forecast at 86.33 million bpd, up from 84.89 million in 2009.
Birol said the economic crisis had played a role in curbing OECD demand but the main reasons were more efficient cars and the increasing use of electricity and gas instead of oil in areas outside transport...
While non-OECD demand is expected to keep world oil use on a growing trend, some believe global consumption could reach a high point in the next decades as a result of policies to tackle climate change...'
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