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View Diary: BREAKING: New Gulf Oil Spill (98 comments)

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  •  You're aware demand is at lower levels (6+ / 0-)

    then 2011, right? But prices are higher than 2011. Your theory makes no sense.

    Lo que separa la civilizacion de la anarquia son solo siete comidas.

    by psilocynic on Thu Apr 12, 2012 at 08:23:37 AM PDT

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    •  Global demand for oil is UP in 2011 per IEA (4+ / 0-)
      Recommended by:
      TJ, Roadbed Guy, Odysseus, wu ming

      US demand has declined somewhat in recent years, but not global. And global demand drives price - oil is a world-wide traded product, as it is relatively easy to ship. The media likes to confuse the two (the media doesn't do a good job around oil - surprise!).

      Rising global demand was cited by President Obama as the prime reason for rising gasoline prices in his Nashua speech last month.

      I think your link refers to US gasoline delivered. Again, this is much less relevant vis a vis price than global usage.

      An ambulance can only go so fast - Neil Young

      by mightymouse on Thu Apr 12, 2012 at 08:36:12 AM PDT

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    •  I don't know squat about it, but that chart is (2+ / 0-)
      Recommended by:
      Puddytat, Bronx59

      specifically Motor Gasoline Products, yes. If so, what are the demands coming from China, Japan, the USA for energy production oil? That is, oil for oil-fired electricity generation.

      China is buying up oil like crazy to keep its economy humming. Japan has shut down just about every nuke plant and turned to oil-fired plants (I believe).

      I think that's where demand is up.

      Factor in the fact that oil companies are going further and further out to sea, and to more remote areas to try and tap the earth's last deposits. Meanwhile, they're laughing all the way to the bank with ever increasing profits.

      It's a supply, demand, production, greed issue. All coming together to form the perfect storm of earth's demise.

      Romney - his fingernails have never been anything but manicured.

      by Pescadero Bill on Thu Apr 12, 2012 at 08:44:18 AM PDT

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