Why gas prices keep rising even though US consumption is falling & production is high

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Why gas prices keep rising even though US consumption is falling & production is high

Global oil demand will rise by 1.2% in 2012 to 88.96 million barrels a day, led by increases in China and other developing nations.


In 2013, demand will rise by 1.5%, or 1.37 million barrels a day, to 90.33 million barrels a day.


Oil inventories held at the end of 2011 provided the highest level of demand cover since 1994, at 56.9 days of cover.


Oil output will continue to rise over the next two years to accommodate the projected increase in world oil demand.


U.S. refiners will pay a record price above $115 a barrel for imported crude this year, and a record of about $114.50 a barrel on average for combined imported and domestic oil. Those prices are up about 12% from a year ago.




http://blogs.wsj.com/economics/2012...ted-to-rise-1-2-in-2012/?mod=google_news_blog
 
Oil future prices have jumped above $165 a barrel for Brent Crude, as a result in part of China’s announcement that it will increase petroleum imports this year.

The fact is that rising long-term demand in China, India and elsewhere in the developing world will continue to push oil prices higher, even without short-term factors such as market speculation and geopolitical instability.

Massive urbanization in these nations is creating steadily increasing demand for petroleum, for transportation, food and other needs.

This fundamental shift explains why China plans to move away from gasoline to a methanol-based transportation system in the years ahead.


http://www.fuelfreedom.org/news-response/rising-demand-developing-economies-driving-oil-prices/
 
So Blabo denies that rising demand from China and other developing nations means the US consumer must compete in the global marketplace for fuel?

Poor Blabo.
 
\\(())// said:
So Blabo denies that rising demand from China and other developing nations means the US consumer must compete in the global marketplace for fuel?

Poor Blabo.
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Liar....When I post it, you'll know what I think.


I love the way the pinheads try to put words in the mouths of others in a lame attempt to win a debate..
 
bravo said:
Liar....When I post it, you'll know what I think. I love the way the pinheads try to put words in the mouths of others in a lame attempt to win a debate..
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So do you agree that "drill, baby drill" is a futile effort, given the fact that the US has so little of the world's untapped oil and global demand far outstrips our production capabilities?
 
\\(())// said:
So do you agree that "drill, baby drill" is a futile effort, given the fact that the US has so little of the world's untapped oil and global demand far outstrips our production capabilities?
Click to expand...
Troll that is you buying that libtard talking point hook line and sinker.
 
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