Posted on 08/12/2008 11:59:15 AM PDT by Sub-Driver
Biggest drop in U.S. oil demand in 26 years Tue Aug 12, 2008 2:53pm EDT
By Tom Doggett
WASHINGTON (Reuters) - U.S. oil demand during the first half of 2008 fell by an average 800,000 barrels per day (bpd) compared with the same period a year ago, the biggest volume decline in 26 years, the Energy Information Administration said on Tuesday.
In its latest monthly energy forecast, the EIA said the huge drop in demand was due to slower U.S. economic growth and the impact of high petroleum prices.
(Excerpt) Read more at reuters.com ...
Traffic in L.A. has been great!
Congress may soon have to pass windfall loss tax credits for big oil companies.
And that, my friends, is a very serious indicator of an upcoming drop in economic activity.
The only reason for the drop in crude prices is that demand destruction is happening.
Without reading the article, I’m guessing “a slowing economy” is at the root of the cause.
Well, I guess you all can blame me.
Sorry.
You see, I just finished building my electric bicycle... It goes 30 miles an hour on the flat, with no pedaling, range of 30-50 miles (depending on terrain) on a single charge that uses 20 cents worth of electricity.
If I don’t have to carry much cargo, and the weather is nice, it is my new every day transportation.
Plus, it is fun!
This may be part of why Ms Peeled Face is now making ‘maybe we can vote on drilling’ ... her oil buddies are screaming at her.
We need to keep up the pressure. Keep the phone calls and emails flying. We must NOT back off.
If we win this fight, we won't see them try it again in a hurry.
WE THE PEOPLE must stay at the point of the fight...
(she also may have gotten a wake-up call with her total flop of a book. Hey, Nancy, you aren't the goddess you thought you were. The minions will not turn out to worship not defend you. Not even your libMarxist Komrads are buying your book. Most of the pathetic few that have sold were bought by libraries.)
Oily Ping!!!
How about posting a pic or a link to the plans?
Economists were “surprised” at the “unexpected” drop in crude demand. I’m sure that’s in the article somewhere.
The only reason for the drop in crude prices is that demand destruction is happening.The only other reason being that short-sellers are anticipating a supply increase in domestic production.
I drove from Sea World in San Diego to Oxnard last month and went 70 the whole way! I only slowed to get In and Out Burger near LAX.
I rode it through 20 miles of mountains to school and back - it had a gas tank that held about a quart of gas.
I have long wished I had one now...This ole gramma WOULD ride it to the village store, with saddle baskets for groceries.
$4 is the magic number...
I’m a child of those years, we also ran Service Cycles, they were neat, you can still find those and similar ones on the ‘net, lots of good stuff still out there. Thank God for folks that enjoy tinkering with them and keeping them alive.
For some reason, today’s moped just doesn’t have the pizzazz that those original motorbikes had. Somebody needs to recapture that. Kind of like Vespa motorscooters, the look-alikes just don’t quite make it...
My wife has a 1.1 mile commute. This is more about fun than economics right now. It does set the stage for some serious economy if it is really necessary.
I figure we have 6 weeks before the first snow hits the ground. The bike won't be rolling once the streets have patches of snow and ice. That's why we have the 4x4s.
I was surprised when Stretch Pelosi started caving on the drilling issue.
I’m a child of those years, we also ran Service Cycles, they were neat, you can still find those and similar ones on the ‘net, lots of good stuff still out there. Thank God for folks that enjoy tinkering with them and keeping them alive.
For some reason, today’s moped just doesn’t have the pizzazz that those original motorbikes had. Somebody needs to recapture that. Kind of like Vespa motorscooters, the look-alikes just don’t quite make it...
The Democrats are sure it has nothing to do with prices.
It’s the result of everyone increasing their tire pressure like Obama said.
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