GasBuddy Blog

Message Forum - Read Message

Category: Daily News Article Discussions > Topics	Add to favorite topics

Author	Topic: Oil Supply Is Rising, but Demand Keeps Pace and Then Some	Post a Reply Back to Topics

xgojim All-Star Author Michigan Posts:582 Points:476,200 Joined:Mar 2011	Message Posted: Nov 24, 2012 9:11:04 AM Ignore xgojim Report Abuse IT used to be taken for granted that as economies grew, they would use more oil. That was a major reason cited in warnings that the world would run out of oil, particularly if standards of living rose in developing countries. Well, standards of living are improving in developing countries, but the dire forecasts now appear to be wrong. In part that is because new discoveries and improving technologies have increased the amount of oil that can be produced. It also reflects conservation, in part, as cars become more efficient and as other steps are taken to reduce oil use. The International Energy Agency, in its 2012 World Energy Outlook forecast that American oil production, which began to rise in 2009 after decades of decline, would continue rising through at least 2020. Visit NY Times for full article

xgojim

All-Star Author
Michigan

Posts:582
Points:476,200
Joined:Mar 2011

Message Posted: Nov 24, 2012 9:11:04 AM

Ignore xgojim Report Abuse

IT used to be taken for granted that as economies grew, they would use more oil. That was a major reason cited in warnings that the world would run out of oil, particularly if standards of living rose in developing countries. Well, standards of living are improving in developing countries, but the dire forecasts now appear to be wrong. In part that is because new discoveries and improving technologies have increased the amount of oil that can be produced. It also reflects conservation, in part, as cars become more efficient and as other steps are taken to reduce oil use. The International Energy Agency, in its 2012 World Energy Outlook forecast that American oil production, which began to rise in 2009 after decades of decline, would continue rising through at least 2020.
Visit NY Times for full article

REPLIES (newest first)Ignore Short Messages

sjf238 Champion Author Philadelphia Posts:1,215 Points:648,705 Joined:Mar 2011	Message Posted: Nov 26, 2012 8:45:25 AM Ignore sjf238 Report Abuse Ok.
remay Champion Author Houston Posts:7,083 Points:2,144,190 Joined:May 2006	Message Posted: Nov 25, 2012 9:16:15 AM Ignore remay Report Abuse What a sad way of titling the article..
Luckylindy Champion Author Milwaukee Posts:4,660 Points:1,155,745 Joined:May 2008	Message Posted: Nov 25, 2012 5:31:57 AM Ignore Luckylindy Report Abuse A tanking economy will cure that.
Ticoman54 Champion Author Miami Posts:7,156 Points:1,517,620 Joined:Oct 2008	Message Posted: Nov 25, 2012 5:14:14 AM Ignore Ticoman54 Report Abuse Propaganda for higher prices...
jwkycola All-Star Author Columbia Posts:817 Points:551,600 Joined:Jul 2011	Message Posted: Nov 25, 2012 1:44:58 AM Ignore jwkycola Report Abuse Yeah. Nothing new.
quasar502 Champion Author Lansing Posts:3,723 Points:829,050 Joined:Jan 2011	Message Posted: Nov 25, 2012 12:44:40 AM Ignore quasar502 Report Abuse There are more reserves now than ever before.
JohnofGB Champion Author Flint Posts:5,566 Points:1,124,870 Joined:Feb 2010	Message Posted: Nov 25, 2012 12:24:38 AM Ignore JohnofGB Report Abuse Yeah, and if it did not, they would raise the price anyway.
LostInNY Champion Author New York Posts:1,864 Points:676,495 Joined:Apr 2011	Message Posted: Nov 25, 2012 12:19:33 AM Ignore LostInNY Report Abuse No surprise
investmentdr Champion Author Cleveland Posts:4,127 Points:1,480,910 Joined:Sep 2008	Message Posted: Nov 25, 2012 12:16:43 AM Ignore investmentdr Report Abuse supply and demand is an interesting concept
evowner Champion Author Salem Posts:2,323 Points:386,960 Joined:May 2012	Message Posted: Nov 24, 2012 10:20:26 PM Ignore evowner Report Abuse Energy conservation should not be confused with energy efficiency. efficiency is the goal along with an unlimited energy supply.
BlueberryFocus All-Star Author Rochester Posts:553 Points:129,535 Joined:Feb 2012	Message Posted: Nov 24, 2012 8:23:07 PM Ignore BlueberryFocus Report Abuse The best solution to all of our energy woes is to simply conserve what we have. While it can be argued we could have been achieving 40, 50+ mpg years ago, we didn't, but it's good we're working on getting there now. I like that people are starting to realize this and are becoming more environmentally aware.
07skydriver Champion Author Ohio Posts:3,380 Points:1,011,175 Joined:Feb 2009	Message Posted: Nov 24, 2012 7:17:27 PM Ignore 07skydriver Report Abuse Just stay home.
ktbaeohana Champion Author Las Vegas Posts:2,417 Points:443,100 Joined:Mar 2010	Message Posted: Nov 24, 2012 7:10:51 PM Ignore ktbaeohana Report Abuse watch and see.
investmentdr Champion Author Cleveland Posts:4,127 Points:1,480,910 Joined:Sep 2008	Message Posted: Nov 24, 2012 6:07:43 PM Ignore investmentdr Report Abuse Supply and demand
dh0770 Champion Author Colorado Posts:6,987 Points:672,460 Joined:Jun 2011	Message Posted: Nov 24, 2012 5:44:07 PM Ignore dh0770 Report Abuse Lies!!!
BUSMAN1105 Champion Author Atlanta Posts:2,256 Points:1,197,425 Joined:Aug 2008	Message Posted: Nov 24, 2012 1:38:29 PM Ignore BUSMAN1105 Report Abuse BUT DEMAND IS DOWN!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
amerk73 Champion Author Dallas Posts:7,190 Points:1,649,655 Joined:Oct 2008	Message Posted: Nov 24, 2012 12:50:09 PM Ignore amerk73 Report Abuse price want up
Ply440GTX Champion Author Texas Posts:1,009 Points:313,555 Joined:Feb 2009	Message Posted: Nov 24, 2012 12:31:42 PM Ignore Ply440GTX Report Abuse I find that the demand "keeping pace" hard to believe...
djwhit Champion Author Ohio Posts:3,152 Points:1,236,155 Joined:Jul 2009	Message Posted: Nov 24, 2012 12:08:48 PM Ignore djwhit Report Abuse THINGS HAPPEN........
Wally3023 Champion Author Pennsylvania Posts:2,121 Points:558,800 Joined:Sep 2011	Message Posted: Nov 24, 2012 11:51:15 AM Ignore Wally3023 Report Abuse That needs to change
humblepie Champion Author Toledo Posts:35,359 Points:2,400,045 Joined:Mar 2006	Message Posted: Nov 24, 2012 11:49:59 AM Ignore humblepie Report Abuse pump prices here soaring
tnfran Champion Author Arizona Posts:4,518 Points:869,140 Joined:Dec 2010	Message Posted: Nov 24, 2012 11:37:08 AM Ignore tnfran Report Abuse It still needs repeating : Lower the oil prices here and the economy will pick up. Its kinda like trying to run a vehicle on gas/diesel but instead of giving it what it needs to run effectively & efficiently starving it hoping it will continue to run as it did with the right amount. IF gas/diesel prices dropped at least $1 a gal people would have more $$$ to buy other things thereby improving the ailing economy.
barber7796 Veteran Author Oklahoma Posts:426 Points:292,410 Joined:May 2012	Message Posted: Nov 24, 2012 11:36:50 AM Ignore barber7796 Report Abuse there has been talk of running out of oil for years. 2035? will not bother me. Things will change more from now till then than has changed since the beginning of time. Man Kind will surive
04LTC Veteran Author Massachusetts Posts:316 Points:100,320 Joined:Sep 2012	Message Posted: Nov 24, 2012 11:33:11 AM Ignore 04LTC Report Abuse Price has only dropped .10 in 2 weeks around here....we need an alternate.
Pramodsharma Champion Author Richmond Posts:2,104 Points:413,140 Joined:Feb 2012	Message Posted: Nov 24, 2012 11:22:44 AM Ignore Pramodsharma Report Abuse Alternate to oil is needed, we heard a lot of oil stock limitation, they are changing their stand now, where are they? ( who said oil will last another 25 -30 years and raised gas prices)
Discovery02 Champion Author Colorado Springs Posts:2,825 Points:338,365 Joined:May 2012	Message Posted: Nov 24, 2012 11:22:30 AM Ignore Discovery02 Report Abuse While we must continue down our road to energy efficiency and independence, we must recognize that other countries will go down their own path at their own speed. Germany is arguably further down the road than we are but rather than hold them back we should speed up our own progress.
molebaby96 Champion Author Tallahassee Posts:2,173 Points:529,755 Joined:Nov 2011	Message Posted: Nov 24, 2012 11:09:15 AM Ignore molebaby96 Report Abuse Price at the pump needs to drop.
bruin19MD Champion Author Maryland Posts:1,108 Points:174,890 Joined:Feb 2011	Message Posted: Nov 24, 2012 11:01:22 AM Ignore bruin19MD Report Abuse Great article, thanks for posting.
ObieDog Champion Author Maryland Posts:2,051 Points:877,270 Joined:Sep 2010	Message Posted: Nov 24, 2012 10:55:47 AM Ignore ObieDog Report Abuse Up down up down.
200porter Champion Author Toronto Posts:2,205 Points:569,835 Joined:Sep 2011	Message Posted: Nov 24, 2012 10:40:00 AM Ignore 200porter Report Abuse I hope this means prices will be dropping .
fjkcpa Champion Author Houston Posts:4,761 Points:629,910 Joined:Nov 2005	Message Posted: Nov 24, 2012 10:38:08 AM Ignore fjkcpa Report Abuse Can this be?????
Melinda205 Champion Author Alabama Posts:1,982 Points:387,490 Joined:May 2012	Message Posted: Nov 24, 2012 10:19:28 AM Ignore Melinda205 Report Abuse Okay
swepson Champion Author Greensboro Posts:5,606 Points:1,578,475 Joined:Jul 2008	Message Posted: Nov 24, 2012 9:56:26 AM Ignore swepson Report Abuse The more we get, the more we'll waste.
Juicy1177 Veteran Author Gary Posts:336 Points:149,050 Joined:Feb 2012	Message Posted: Nov 24, 2012 9:48:58 AM Ignore Juicy1177 Report Abuse ok
kyjlh Champion Author Kentucky Posts:1,751 Points:679,920 Joined:Feb 2005	Message Posted: Nov 24, 2012 9:39:23 AM Ignore kyjlh Report Abuse More gas but still high prices, can't win
gfox4810 Champion Author Kalamazoo Posts:1,301 Points:419,475 Joined:Jul 2011	Message Posted: Nov 24, 2012 9:38:23 AM Ignore gfox4810 Report Abuse good
merlinCO Champion Author Colorado Posts:1,780 Points:369,095 Joined:Mar 2012	Message Posted: Nov 24, 2012 9:33:37 AM Ignore merlinCO Report Abuse Keep the alternative fuels coming!!
xgojim All-Star Author Michigan Posts:582 Points:476,200 Joined:Mar 2011	Message Posted: Nov 24, 2012 9:24:38 AM Ignore xgojim Report Abuse What great news! Damn the forecasters... negative forecasts feed the media and inflame the unknowing public.