Beautiful charts. But you're not considering a key factor: price. Demand doesn't grow independently. It's a function of price.
But you're not considering a key factor: price. Demand doesn't grow independently. It's a function of price.
Agreed, price will play a role but I believe that it's mainly the fluctuations around the trend (Figure 1). Regardless of price, there is a demographic pressure that is driving oil consumption growth (i.e. my offsprings will get a car). In particular in the US, the number of cars has grown faster that the population itself! I think that the last figure (Figure 7) should be really our concern and it's clearly demonstrating the economy is not dematerializing.
"...the number of cars has grown faster that the population itself!"
Wow! That's an amazing statistic. Do you have a time series of the car population?
Do you have a time series of the car population?
Not yet, I'm actually looking for numbers. I've read this info in the National Geographic issue on oil (2004) but they don't give any specific numbers or references.
Commenting by HaloScan
