A perfect storm's brewing to cool petroleum demand


	A perfect storm's brewing to cool petroleum demand

JICWyllie

10-16-2009 12:12 PM

236 views

tags:

1-demand, 1-recession, 2-consequences, 2-decrease, 3-forecast, 4-intl

JICWyllie says:

There's not so much incentive to invest in exploration, lots of incentive to keep the price of existing supplies as high a possible. The key on price is not really supply, but must be based on what people can afford to pay.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/d86e4ef1-7224-4769-b08e-07a979db03bf/62AAEA86-FF1D-47A1-9618-8DFB09E44706/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.marketwatch.com/story/a-perfect-storms-brewing-to-cool-petroleum-demand-2009-10-16" href="http://www.marketwatch.com/story/a-perfect-storms-brewing-to-cool-petroleum-demand-2009-10-16" style="font-size: 11px;">www.marketwatch.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.marketwatch.com/story/a-perfect-storms-brewing-to-cool-petroleum-demand-2009-10-16">A perfect storm of influences is having a lasting effect on the world's petroleum markets and there's nothing on the horizon to sway its path.
</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.marketwatch.com/story/a-perfect-storms-brewing-to-cool-petroleum-demand-2009-10-16"><P>
With high oil and fuel prices, a weak global economy and worldwide government and consumer efforts to increase conservation and efficiency, some analysts doubt a return to the peak energy consumption levels seen just a few years ago.
</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.marketwatch.com/story/a-perfect-storms-brewing-to-cool-petroleum-demand-2009-10-16"><P>
"Bad economies breed efficiency," said James Williams, an economist at WTRG Economics. Consumers are forced to cut down on costs, including energy consumption, and in doing that, "they may find a more permanent solution for their energy needs."
</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.marketwatch.com/story/a-perfect-storms-brewing-to-cool-petroleum-demand-2009-10-16">Petroleum for transportation has been the single driving force behind OECD oil demand </blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.marketwatch.com/story/a-perfect-storms-brewing-to-cool-petroleum-demand-2009-10-16">Now we are seeing the tempering of the last significant driver of oil demand in developed countries</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.marketwatch.com/story/a-perfect-storms-brewing-to-cool-petroleum-demand-2009-10-16"><P>
Statistics appear to agree. The U.S. is now 52% dependent on imported petroleum instead of 62% dependent because of lower consumption, according to Williams.
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