Gristmill: A blogful of leafy green commentary

Visit GristMill

Q: Will we see $3 gasoline before we see $5?

Posted on August 21, 2008

By Joseph RommA: Who knows? and It doesn't really matter. Much higher gasoline prices that are sustained for a long, long time are now inevitable. The fundamentals in the oil market are that we are in the beginning stages of peak oil. Supply can no longer keep up with demand, which keeps soaring even in the face of record prices. The U.S. Energy Information Administration has the surprising statistics [PDF]: Preliminary data indicates that global consumption rose by roughly 500,000 barrels per day (bbl/d) during the first half of 2008 compared with year-earlier levels, as a 1.3-m...

Original article link


china , deficit , demand , department of energy , dutch , economic , french , global warming , india , oil demand , peak oil , plug in , policies , president , report