Oil demand set to soar this year (CNN) (they just got the memo)

[cthrumatrix]

Oil demand set to soar this year
Friday, March 11, 2005 Posted: 1252 GMT (2052 HKT)



Chinese oil demand set to grow by 33 percent more than previously forecast this year.

LONDON, England (Reuters) -- World oil demand will grow even faster than expected this year as a harsh end to the northern winter and robust growth in the United States and China pump up consumption, the International Energy Agency said on Friday.

Estimated demand growth this year has been revised up by 290,000 barrels per day (bpd) to 1.81 million bpd, taking annual global consumption to 84.3 million bpd, the IEA said in its monthly Oil Market Report.

"The revision is attributed primarily to very cold weather in late February and early March, a more robust view of U.S. economic growth and the impact of this and other factors on China's oil demand growth prospects," said the IEA, which advises industrialized nations on energy policy.

snip

http://edition.cnn.com/2005/BUSINESS/03/11/oil.demand.reut/index.html

[hatrack]

1. Boy, they sure don't miss much, those hawk-eyed journalists of CNN!

:eyes:

[farmbo]

8. Except a little "supply" issue: 12 attacks on Iraqi pipelines last month!

http://www.iags.org/iraqpipelinewatch.htm

[liberal N proud]

2. They must do their part to calm the masses

Tell them there is such high demand, they will understand.
All pure bu$h shit.

[NNN0LHI]

3. It is difficult for them to find time for such trivia when they have...

...videotape of Michael Jackson coming to court in a hospital gown and house shoes. Now that is big news.

Don

[zanana]

4. Where is all this "robust growth"?

I don't see it. Do you? All I hear about lately is how well the economy is doing. Could some fine economic mind tell me where the economy stands right now?

[Ezlivin]

31. Let me add my voice to yours

I read the business section of the Fort Worth Star-Telegram every day. They generally have some small article lauding the economic recovery. It's typically surrounded by other articles announcing profit-losses, layoffs and outsourcing.

Reading that section generates its own cognitive-dissonance.

[Name removed]

5. Deleted message

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[DenverDem]

9. Wow, that would last, what, thirty years?

Nice long term solution and totally worth destroying an irreplaceable ecosystem.

[ljm2002]

10. And if we mandated a 10mpg increase in mileage...

...of all newly built automobiles, that would more than cover the 1 million barrels a day... indefinitely.

Hmmm, wonder which one we should pursue? I konw! Let's do the one that makes oil companies the most money and that lets car manufacturers off the hook and that is short term not long term and...

pffft.

[rkc3]

12. That's crazy talk - increasing gas mileage. That would require

some creativity amongst the Big 3's engine designers and Murricans wouldn't like giving up their big, freedom loving SUVs.

[Name removed]

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[MARALE]

22. Accually, I think that it is what Americans want

Why wouldn't they want better gas milage? The only ones who would not want it would be the oil companies. Most Americans want mational health care as well, but it won't become a law because of the insurance industry.

[Sin]

11. So when it comes on line

In 6 years it could lower the price of gas to $6.41 a gallon instead of that outrageous price of $6.42 yep that sells me lets break out the shovels.
Don't forget drilling there doesn't stop demand from going up and the older fields from running low our out in between now and then.
we can pump all we want and it still wont be enough to slake our thirst.

[Tracer]

15. The Footprint?

I recall Charles Lewis of the Center for Public Integrity comparing the claim of a "small footprint" in ANWAR to his office desk.

By the standards used by ANWAR pushers, his entire desk would only take up a few square inches, because the only measurement counted would be the space under each of the 4 legs.

[heidler1]

23. Your rosy scenario of available oil in ANWR seems unshared by the

major oil companies who have backed out on investing their money in ANWR. One problem not mentioned is the 20 year design life expectancy of the big oil pipe line from the North Slope to Valdez. The projected value of the NS oil was sufficient to warrant the pipe line, but is the ANWR oil very likely is not.

[NickB79]

24. I found this link interesting

ANWR has been extensively mapped out by the USGS over the past decade. 10 billion barrels is about the maximum that could ever be extracted before the wells go into declining production; to hypothesize that there could be 30 billion barrels is pretty far-stretched. The US today uses over 18 million barrels per day; drilling in ANWR would NOT change the price of oil or gasoline substantially if it's only producing one million bpd. By the time any ANWR production comes online in 2010-2015, oil prices will probably be so high already that it won't make a dent in prices worldwide.

http://www.sibelle.info/oped15.htm

[The_Casual_Observer]

25. This is has no merit

Anwr has nothing to do with energy Independence. It has everything to do with chimp keeping a promise to some campaign contributor or special interest. It is shitty policy and makes no sense economically or environmentally.

[Skittles]

26. hey scotland

can't we have just ONE F'ING PLACE THOSE GREEDY CONSERVATIVE BASTARDS CANNOT TOUCH? JUST ONE??????????????????????

[Name removed]

35. Deleted message

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[fob]

34. Do you and Ed Schultz guarantee it will be used domestically and not

sold elsewheres, like to China? The bill as I've read/seen/heard offers no such protection.

[Name removed]

36. Deleted message

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[fob]

37. So you're okay with letting private companies drill in this area AND

sell the oil to Japan? So will we (the OWNERS) of the land be assured that when these private companies sell OUR oil to Japan and use the money to buy oil from the middle east that they will NOT take profits at that point thereby reducing OUR buying power? I agree this is no conspiracy it's straight up thievery!

You also bring up refineries, actually Gray Davis approved several permits during his last term and I believe at least 1 plant came online either shortly before or shortly after the gropenator stole his way to power.

[Nordmadr]

6. Too bad Santa didn't bring us those extra 1.81 million bpd

Maybe Jesus will instead.

Olaf

[rkc3]

13. With the Rapture right around the corner, there should be plenty of

extra oil to go around. Most of the faithful will no longer be driving - if we could only figure out a way to deal the Anti-christ once he shows up things might actually improve for a while.

[pilgrimsoul]

20. Oh well

if not the rapture, the planned thinning of the herd via a manufactured bird-flu pandemic should reduce oil demand long enough for the Bushistas to bleed any remaining assets from the lower and middle classes. What a wonderful world!

[rkc3]

21. I hadn't thought of that - a nice pandemic to kill off the weakest.

Just like Darwin said - survival of the richest.

[farmbo]

7. Well...Bush has outsourced at least 33% more US jobs to China...

No wonder China's "demand" is up 33%.

[Media_Lies_Daily]

16. "Robust growth"??? Where the heck is it hiding? I'm not seeing....

...anything to support the idea of "robust growth" here in the Huntsville, AL geographic area other than quite a few new restaurants and other businesses being built in anticipation of a growing economy. The low number of new job openings is also not supporting the idea of ANY growth.

My guess is that the US and China are adding oil as quickly as they can to their national reserves in case something goes hot in Taiwan.

[catmandu57]

19. The robust growth

is in China and India.

[Yavin4]

17. This Is Why We Need Business Regulations

My guess is that Chinese plants can operate completely unregulated. Thus, they're probably not as fuel efficient as they can be.

[slackmaster]

18. I had a nice talk with my ex-Republican mom about this last night

We were talking about cars. She usually drives a nearly 20-year-old two-seater sports car that gets about 40 miles per gallon of gasoline on the highway. But it's starting to leak fluids and I suggested she should consider getting something newer. It would be cheaper to run and safer.

I was a little surprised that she brought up the subject of hybrid cars. It seems she is putting more and more value on the effect her personal choices have on society in general. We agreed that often the best choice for your family is the best for everybody. The higher the price of gasoline goes, the more people will stop driving gas-guzzlers and the oil companies will find themselves stuck with excess production capacity.

She's going to run the numbers and see if being an early adapter of hybrid cars makes sense for her now. She has a Jeep Cherokee that she uses for long trips and off-road activity, and plans to keep that.

I told her if gasoline goes to $5 per gallon I'll consider ditching my SUV and buying a fuel-efficient car for my daily commute to work, which is about 13 miles each way on pavement. For special trips I've had my eye on a Pinzgauer (demilitarized surplus Swiss army vehicle) for a while.

See copyrighted images and lots of cool information at http://www.pinzgauer.com/

[Pachamama]

27. Oh right, lets blame it now on the Chinese...Who the hell do they think is

buying all the cheap chinese sh*t at Walmart, Target and elsewhere that is made from plastics using petroleum?

:eyes:

[cthrumatrix]

28. the US uses 25% of ALL production every year...case closed

[Pachamama]

33. And what % of SUV's are sold in the US?

:eyes:

The US is Drunk on Petroleum and Petroleum based products...drilling in ANWR and any other so-called "solution" to hi-gas prices and alleviating the supply issues is all short-term, but its analogous to giving another Martini to an alchoholic....The United States of America needs to go on a 12 step program to start figuring out how to be less "addicted" to Petroleum and Petroleum based products. We need to be working on energy conservation, recycling and ways to reduce our dependency and consumption.

Gawd, its disgusting what is happening....Don't people get it? :grr:

[cthrumatrix]

38. 12% of all people ...use 54% of ALL energy....this is a problem

[redacted]

29. Anyone see this essay?

http://fromthewilderness.com/free/ww3/031005_globalcorp.shtml#0

kick

[cthrumatrix]

40. chilling

[adigal]

30. When the price of oil goes up, up, up

I am going to walk and ride my bike everywhere I can. It may actually be a very good thing for American's health, more like the Europeans who walk and bike and are not obese.

Only absolutely necessary car trips will be taken. It will also force us to get better mileage or develop some other type of fuel or engine.

[palme]

32. I feel weird.

I feel weird, that Bush's deluded policies makes us help save out welfare state in Norway....

Talk about mixed feelings.

Hei,

Palme.

[Lisa]

39. me too ...

Bush has gotten into so many minor quarrels with Canada (postponing visits, teasing our former PM about his friendship with Clinton, etc.), that many people here decided they don't like any of his policies. If Clinton had asked us to deploy more military forces, we would probably have done it! So now our government, which is usually pro-business, has decided to go ahead with Kyoto, refused missile defense (for now), is staying out of Iraq, and is supporting same-sex marriage. I don't think this would have happened without Bush polarizing us.