Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: KyrosL who wrote (69659)	6/15/2008 10:54:44 PM
From: Snowshoe	Read Replies (1) of 74559

The USA is definitely cutting back on oil consumption. If this rate of decline is sustained for several years it will be significant... World oil consumption is projected to grow by 1 million barrels per day (bbl/d) in 2008. U.S. consumption of liquid fuels and other petroleum is expected to decline by about 290,000 bbl/d in 2008 because of higher petroleum product prices and slower economic growth. Adjusting for increased ethanol use, U.S. petroleum consumption is projected to fall by 440,000 bbl/d in 2008. eia.doe.gov P.S. Gasoline is now at $4.20/gallon locally.

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