Building a world of
resilient communities.



Global oil demand may go up in `05 led by U.S.

World oil consumption may rise 2 per cent next year, led by increased usage of diesel, gasoline and jet fuel in the U.S., Societe Generale said.

Demand may rise 1.6 million barrels to 82.7 million barrels a day, according to France's third-largest bank. Consumption is estimated to rise 3.3 percent to 81.1 million barrels this year, as economic growth in China boosts demand.

The US will have a far greater weight in global demand growth in 2005, sasid the head of commodities research at SG Economic Research in Paris. Transport fuels, particularly gasoline, diesel and jet kerosene, will continue to lead the rise in usage.

Crude oil futures in New York are 23 per cent higher than a year earlier because of rising U.S. demand, refining bottlenecks that limit gasoline supplies and growing concern that terrorist attacks in Middle East will disrupt supplies.

The U.S. oil demand may rise 450,000 barrels a day in 2005 compared with a year earlier, the report said. Societe Generale estimated oil demand in the worlds largest consumer to increase 390,000 barrels a day this year.

Shortages in U.S. refining capacity and rising demand will keep profit high for refiners in the U.S. and Europe, Societe Generale said.

What do you think? Leave a comment below.

Sign up for regular Resilience bulletins direct to your email.

Take action!  

Find out more about Community Resilience. See our COMMUNITIES page
Start your own projects. See our RESOURCES page.
Help build resilience. DONATE NOW.


This is a community site and the discussion is moderated. The rules in brief: no personal abuse and no climate denial. Complete Guidelines.

The "Syrian Sickness": What Crude Oil Gives, Crude Oil will Take Away

Crude oil had created modern Syria, crude oil has destroyed it.

Drought Influenced Syrian Civil War; So What, Says U.S. Congress

This singular thought, that climate change can stir dangerous human …

Peak Oil Review - Nov 23

A weekly roundup of peak oil news, including: -Quote of the Week -Oil and …

Despite Low Oil Prices, Renewable Power Gaining Traction, Energy Agencies Report — But Not Yet Fast Enough for the Climate

The shift away from coal and towards renewable sources of energy is slowly …

Peak Oil Notes - Nov 19

 A midweek update.Oil futures fell as low as $39.91 a barrel in New …

Keeping warm with minimal heating: small-scale solutions

I discuss some of the ways you can add the equivalent of an extra layer of …

Can We Afford the Future?

As a child of the 1950s I grew up immersed in a near-universal expectation …