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July 2012: US oil demand falls to lowest in 4 years

Quote:

U.S. crude oil demand fell to its lowest in nearly four years in July as the middling U.S. economy and fuel efficiency gains weighed on consumption, the American Petroleum Institute said on Friday.

At the height of summer driving season, petroleum demand dropped 2.7 percent from a year earlier to 18.062 million barrels per day. It was the smallest amount of U.S. oil consumption for any month since September 2008.

[...]

A large chunk of the decline in oil demand came from gasoline use. Gasoline demand fell 3.8 percent in July to 8.624 million bpd. Consumption of the fuel was down 1.1 percent for the first seven months of the year, compared to the same period a year before. Consumers are buying more fuel efficient vehicles, which is keeping U.S. gasoline demand down, said

Tim Evans, an energy analyst for Citi Futures Perspective. "This is an established, ongoing long-term trend," Evans said. "U.S. gasoline demand appears to have to peaked in 2007 and over time we've been consuming less."

source: UPDATE 2-US oil demand dipped to near 4-year low in July-API | Reuters

to bad its taking more efficient cars then the drivers themselves to do this

But world demand for crude oil keeps increasing.

“A relatively subdued global oil demand forecast persists for both 2012 and 2013, resulting from the weak economic backdrop,” the report said, with global demand for oil rising just 1 percent with estimated output for 2012 averaging 89.6 million barrels per day (mb/d) and rising to a meager 90.5 mb/d average in 2013.

Source: IEA Cuts 2013 Oil Demand Forecast on Weak Economy - Business News - CNBC

That's great new but unfortunetly not where we should be. We should be dropping by 10-15% per year

Since there are more and more people on this world, even if everyone in the world buys hybrids that will not be enough to get off oil

Quote:

Originally Posted by GRU (Post 322366)

getting away from oil will take a game changing technology to emerge. If it happens, it will probably be related to clean/cheap/safe electrical power, we can all drive plug-ins.

First Ecomodder.com gets lots of new members, many of which get serious about boattails and/or extreme hypermiling, then this

Quote:

July 2012: US oil demand falls to lowest in 4 years

What will be next? Big Oil is gonna ban us, I tell ya!

Does anyone think that the extreme triple digit temps. during that time period
would help to discourage excessive travel much beyond normal work/life commutes???

I think more people suspended their FUN to hole up somewhere from the heat!

And no; I don't believe in global warming; this is more like judgement/wakeup call.

That's all I'm saying... I'm not getting political/religious here.

Late August, early Sept., are still cooler many places. Let's see how those #'s pan out.

I think more people sit in idling vehicles with the A/C running :)