Oil demand lowest in 13 years

[LargoWinch]

The recovery is here, so it must be cash for clunkers. :rolleyes:

WASHINGTON (Reuters) - Tue Sep 29, 2009

The U.S. government on Tuesday revised down U.S. oil demand in July to 4 percent below year-ago levels as the struggling economy sent petroleum consumption to the lowest level for the month in 13 years.

Oil demand in July was 133,000 barrels per day (bpd) less than the Energy Information Administration previously estimated at a revised 18.771 million bpd, the lowest since 1996. That's down 786,000 bpd from a year earlier when demand was 19.557 million bpd.

Article here.

[pwcmba]

Re: Oil demand lowest in 13 years

Doesn't that lower the amount/demand for dollars/petrodollars?

http://en.wikipedia.org/wiki/Petrodollars

A petrodollar is a United States dollar earned by a country through the sale of petroleum.[1] The term was coined by Ibrahim Oweiss, a professor of economics at Georgetown University, in 1973. Oweiss felt there was a need for a word to describe the situation then occurring in oil producing, OPEC countries which were earning large amounts of money, in dollars, from oil production.

[pwcmba]

Re: Oil demand lowest in 13 years

Also means lower deaths!

http://www-fars.nhtsa.dot.gov/Main/index.aspx

Hurrah! http://www.findingdulcinea.com/news/...y-in-2008.html

"The financial crisis may also be a factor. “One of the few benefits of a bad economy is that you don’t kill as many people in motor vehicle crashes,”

[Slimprofits]

Re: Oil demand lowest in 13 years

http://tonto.eia.doe.gov/dnav/pet/PE...NUS_MBBL_M.htm

from the largest categories:

U.S. Product Supplied of Total Crude Oil and Petroleum Products (Thousand Barrels): http://tonto.eia.doe.gov/dnav/pet/hist/mttupus1m.htm Lowest since 1996


U.S. Product Supplied of Finished Motor Gasoline (Thousand Barrels): http://tonto.eia.doe.gov/dnav/pet/hist/mgfupus1m.htm Lowest since July 2003


U.S. Product Supplied of Kerosene-Type Jet Fuel (Thousand Barrels): http://tonto.eia.doe.gov/dnav/pet/hist/mkjupus1m.htm Lowest since July 1995


U.S. Product Supplied of Distillate Fuel Oil (Thousand Barrels): http://tonto.eia.doe.gov/dnav/pet/hist/mdiupus1m.htm Lowest since July 2000

Distillate Fuel oil is used primarily for space heating, on and off highway diesel engine fuel (including railroad engine fuel and fuel for agricultural machinery), and electric power generation.


U.S. Product Supplied of Natural Gas Liquids and Liquid Refinery Gases (Thousand Barrels): http://tonto.eia.doe.gov/dnav/pet/hist/mngupus1m.htm Lowest since July 2003

[Rajiv]

Re: Oil demand lowest in 13 years

I noticed that the number of motorcycle deaths have increased steadily -- logically, the implication is that people may be shifting from driving automobiles to two wheeled vehicles -- presumably to reduce out of pocket costs.

I definitely see more two wheel traffic in the SF Bay area -- mainly smaller gas powered scooters

[GRG55]

Re: Oil demand lowest in 13 years

I noticed that the number of motorcycle deaths have increased steadily -- logically, the implication is that people may be shifting from driving automobiles to two wheeled vehicles -- presumably to reduce out of pocket costs.

I definitely see more two wheel traffic in the SF Bay area -- mainly smaller gas powered scooters

My medical doctor friends call them donorcycles...

[Godozo]

Re: Oil demand lowest in 13 years

I definitely see more two wheel traffic in the SF Bay area -- mainly smaller gas powered scooters

I've noticed the same thing myself over in Northwest Indiana.

Last year I had a "let's see if I can see a moped every day" game; saw (usually one) moped everyday until mid-October. This year no game, but plenty of days I've seen three or four mopeds at different places during the day.