chinaco
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- Feb 14, 2007
- Messages
- 5,072
It appears that people are rushing out to buy more fuel efficient cars in the US.
It would seem that prices will stabilize at a certain point.
I have not researched the stats... but if 20% (on average) of the gas hogs (13 - 18 mpg) vehicles are replaced with 25-33 mpg vehicles in the next 2 or 3 years, we reduce US fuel (gas) consumption by 10%. This would roughly translate to 3/4 of a billion barrels of oil reduction per year.
However, while US consumption is lowering, international demand would still grow.
International demand in developing nations will reach an equilibrium because of the cost. If oil is too costly, they will demand less.
Where do you think gasoline/diesel prices will stabilize in the next few years? $5/gal??
It would seem that prices will stabilize at a certain point.
I have not researched the stats... but if 20% (on average) of the gas hogs (13 - 18 mpg) vehicles are replaced with 25-33 mpg vehicles in the next 2 or 3 years, we reduce US fuel (gas) consumption by 10%. This would roughly translate to 3/4 of a billion barrels of oil reduction per year.
However, while US consumption is lowering, international demand would still grow.
International demand in developing nations will reach an equilibrium because of the cost. If oil is too costly, they will demand less.
Where do you think gasoline/diesel prices will stabilize in the next few years? $5/gal??