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Old 03-08-2017, 04:35 PM   #101 (permalink)
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I don't think there is such a thing as "Good News" when it comes to talking about the oil companies.

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Old 03-09-2017, 12:11 PM   #102 (permalink)
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supply & demand?

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Old 03-09-2017, 05:36 PM   #103 (permalink)
...beats walking...
 
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Ah-h-h-h-h, but there are quite a few MORE vehicles today than there were back in 1987. The *real* number to look at is MILES/VEHICLE.
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Old 03-09-2017, 05:42 PM   #104 (permalink)
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[citation needed]
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Old 03-09-2017, 06:47 PM   #105 (permalink)
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Good point, Old Tele man.

I'm looking at it from the angle of total fuel consumption. And even with improving fleet efficiency, I bet a gain like that probably means a net increase of fuel burned.
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Old 03-09-2017, 07:20 PM   #106 (permalink)
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...especially with people keeping their vehicles L-O-N-G-E-R than ever before.
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Old 03-11-2017, 10:31 AM   #107 (permalink)
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Based on this graph from EIA it appears as though the trend was down but now is upwards again.

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Old 03-11-2017, 12:05 PM   #108 (permalink)
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The interruption in the personal use and miles traveled coincides with the. 2008 financial crisis and the start of the recession & job losses.
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Old 03-11-2017, 11:55 PM   #109 (permalink)
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With the massive influx of oil men into the Government, we will see changes which only benefit the Oil companies.

Drain the swamp, and fill it with oilmen...
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Old 03-12-2017, 10:43 AM   #110 (permalink)
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S.A. budget woes

S.A. sits on some of the "cheapest to extract" oil. But that doesn't help when your oil-dependent national budget is based on estimates of triple digit oil prices:

Quote:
The current budget predicts a $55-dollar barrel, but reaches a fiscal breakeven at a $98 barrel.

[...]

In January, Riyadh suspended the implementation of austerity measures in the first half of 2017 to ease financial burdens on a populace accustomed to heavy food and fuel subsidies. Source
S.A. is caught between an oily rock and a hard place: they want the price of oil to recover to support its finances, but they also want it unstable enough to discourage activity of more expensive production (eg. U.S. fracking & Canadian oil sands).

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