RSSWorld Oil Demand vs. Supply (1970-2007)
Despite the fact that demand for oil has exceeded supply during approximately one-half of the past 38 years, the shortages have not been extreme – the largest being approximately 1.5 billion barrels in 1982. Market forces always seem to be at work to solve the imbalances. But opinions differ as to the cause of the enormous price increase during the last year. Are the traditional supply and demand forces still operational? Are ”speculators” artificailly driving up the price? Are there other forces at work? What’s your opinion?
5 Responses to “World Oil Demand vs. Supply (1970-2007)”
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July 16th, 2008 at 10:39 am
Hey Mr. Perot,
Why don’t you use your influence with Washington to get the EPA to test these Hydrogen Fuel Injection systems that the National Hydrodgen Association endorses as being able to increase fuel economy between 10-40% depending on driving habits. People around the Internet are claiming they can double their mileage. These devices are also called HHO Gas Devices or Water Fuel Cells. There’s been so much interest and so many companies are starting to produce these kits, it would be nice if someone in the DOE or EPA got off their duff to help out consumers by showing generically speaking whether these devices work or not. I personally believe they do, but it would be nice to have the Fed Govt backing that opinion without choosing a particular vendor of preference. That alone could save Americans a ton of cash right now.
Two universities have studied this technology–Purdue and Florida Atlantic. We need the EPA to put these things on a dynamometer and run a test set.
Best Wishes with your website,
Joseph
http://aquygen.blogspot.com
http://waterhybrids.blogspot.com
http://waterfueling.com
July 16th, 2008 at 7:56 pm
Speculators are driving it up. The market is on a run away bus and the driver is terminal. The free market is wonderful, but some items need a control point, and if our politicians are too stupid or too lazy to create incentives to move away from an oil economy, then someone that has a license needs to drive the bus. In my opinion, the oil pumped within the USA needs to have controls put on it– such as for how much it can be sold to us citizens and how it can be used, and the government should be crop sharing the product with the oil company’s just like I crop share my land. For those who don’t understand crop share, I let you plant it, harvest it and maintain it on my land. I get 1/3 the profit because I own the land; you used it. It works really well for both of us.
July 18th, 2008 at 4:37 am
Find oil in Indiana…
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July 21st, 2008 at 9:09 pm
Newt Gingrich (You Tube) recently suggested releasing 1/3 of our strateginc oil reserves to punish the speculators who are driving up prices for pure profit motives. This would stop the speculation on futures. Together with developing new energy sources (wind, solar, atomic, etc.) and getting control of our out of control oil appetities would make this natioin energy independent in 10 years.
July 31st, 2008 at 10:30 am
@ John
I would like to see a PerotChart on the effect of releasing 1/3 of the strategic oil reserves to the American consumer. I’m not sure it would have the effect Gingrich intends, due to the fact we can only draw out 4.4 million barrels a day from the SOR, while we presently import 12 million barrels a day. That gives us a 160 day supply; if I’m a futures trader I look at selling contracts beyond that mark so I can get filthy rich when the temporary supply expires.
New energy sources for electric power would have zero effect on petroleum dependency, as only 2% of our power is derived from that. The real answer seems to be driving less and converting gasoline engines to some sort of natural gas solution, which we have in abundance.