Oil Demand Slowing
A new report has been released by the EIA saying that our demand on oil is decreasing:
U.S. oil consumption is expected to level off with virtually no growth between now and 2030 because of increases in energy efficiency, greater use of renewable fuels and an expected rebound in oil prices, the government said Wednesday.
The Energy Information Administration said overall energy use will continue to increase but at a slower rate than predicted only a year ago.
The agency projected a 3 percent annual increase of renewable energy use, including solar, wind and biofuels such as ethanol.
This is good news, but we still have a lot of work to do.
This also brings me to something I have been thinking about. A lot of environmentalists were happy with gas prices over $4.00 a gallon. They argued that it dropped usage, which of course it did. The problem is that it drops usage in segments of the population it really shouldn’t. Lower income families are cutting back on trips and that. Then if you take families that live miles from anywhere, then instead of cutting back on their gas usage, they cut back on other things – like food or medical treatment.
