U.S. Gasoline Demand Peaked In 2007, never to return

U.S. gasoline demand, hammered by the recession, will never return to 2007's peak, as greater use of biofuels and increased engine efficiency cut consumption of the fossil fuel...

Daniel Yergin of IHS Cambridge Energy Research Associates--author of "The Prize," a history of the oil business--has said U.S. gasoline demand peaked in 2007. Chevron Corp.'s (CVX) Chief Executive Dave O'Reilly said in an earnings call last month that the company has chosen to focus investment on the Pacific Rim, where economies are expected to grow.

The use of fossil fuels to power vehicles has been declining in the U.S. as a result of the economic downturn, greater engine efficiency, increased use of gasoline-electric hybrids, and requirements to include larger amounts of ethanol and other biofuels. As fossil fuel's share of the mix diminishes over time, "we're going to be in the biofuels business," Hayward said.

So the end of the Big Oil companies is within sight... not willing to go quietly into the good night, it is they who are now moving to the forefront of Alt energy and emerging Tech.

Exxon Statement
BP's announcement

[edit on 20-11-2009 by DaddyBare]

But then there's China and India. Even if they all use small cars, their sheer numbers alone should rival or even surpass US peak usage. It's only a matter of time.

Originally posted by eldard
But then there's China and India. Even if they all use small cars, their sheer numbers alone should rival or even surpass US peak usage. It's only a matter of time.

Well yeah they talked about that..

Chevron Corp.'s (CVX) Chief Executive Dave O'Reilly said in an earnings call last month that the company has chosen to focus investment on the Pacific Rim, where economies are expected to grow

However we all know we manufacture nothing in the states anymore... as the new gen of electric and hybrids come out they will be mostly manufactured elsewhere... in essence they will have that tech first and if their smart will put it to use too...

reply to post by DaddyBare


Man, I like your posts. Very thought provoking.

Funny, how the USA is slowly un-developing right? For the past 30 years? Wonder why we don't make anything anymore. Almost like a plan to make us equal with other 3rd world countries. Kinda like a conspiracy for global domination...

You really want thought provoking with a conspiracy twist? try this on for size...
they let us spiral downwards until things really get bad and when were in a darkest hour they announce,,, "Guess what we found friendly aliens and there here to save us all"!
What better way to do both disclosure and the founding of a one world government????

on the other hand history has taught us all great civilizations have their ends... more likely were quickly coming to that final chapter...

[edit on 20-11-2009 by DaddyBare]