World Oil - producers and consumers

by **A Person** » Mon Jun 18, 2012 1:47 pm

This chart, compiled from BP data shows the problem, the current major consumer (US) and the future consumers (India, China, Brazil) already consume more than they produce - and it's likely to get worse. It also clearly shows why drilling for oil in the US parks wouldn't have any effect on the price of oil

by **Liv** » Mon Jun 18, 2012 2:54 pm

I'd like to see the EU on that chart personally.

by **A Person** » Mon Jun 18, 2012 7:25 pm

The EU consumes about 14,250 kbpd and produces around 12,500.

Consumption has been declining on a steady trend since the peak of 15,750 in 2007, partly due to GW initiatives and partly from the collapse in the economy.

I've added the EU spot. It's probably too big, since it's oil reserves are about a quarter of the US.

: oilChart-prod-cons-res-June-2012[2].jpg (37.64 KiB) Viewed 1170 times

by **Liv** » Mon Jun 18, 2012 7:30 pm

That's really interesting.

You know what I've always wondered about, is why Hybrids are such a big thing here in the US, when they're not common in Europe (at least as far as I know).

Since gas has been more expensive there for a long time, and of course, we know you can build a ICE vehicle to meet most hybrids fuel economies, why isn't our government encouraging us away from this marketing gimmick.

by **A Person** » Mon Jun 18, 2012 7:37 pm

Diesels filled the role of hybrids a decade ago.

My mother is looking for a new car in the UK. A diesel VW Golf costs 2/3 of a Prius and achieves similar of better fuel consumption - depending whether you are driving in town or rural.

What I don't understand is why we in North America aren't using natural gas for cars. We have masses, it's dirt cheap, and reduces carbon emissions and can be produced from sewage as well as fossil fuels.

by **Liv** » Mon Jun 18, 2012 7:51 pm

Timely article on just that:
http://online.wsj.com/article/SB1000142 ... 38416.html

I imagine it's quite possible for it to happen, if the US ever gets serious about solving the problem. It's going to take legislation to make it happen, something with the current thought process of republicans, is unlikely to happen.

by **A Person** » Mon Jun 18, 2012 11:51 pm

The invisible hand of the Free Market is pushing the wrong way to solve the tragedy of the commons. Indeed the hyper-partisanism of the right wing and libertarians is all about exploiting the commons and raping anyone found nearby.

by **Liv** » Tue Jun 19, 2012 12:38 am

I'm very interested in seeing what happens with the new 3 cylinders coming out. Considering I own a 16 year old version of it, it would be a complete conspiracy if they can't manage 65 MPG + (Some Metros do that with slight mods.)

I'm going to be watching the whole thing real close, but I'm wondering how D.C. and Big Oil will handles cars with that MPG, and not having to worry about diesel or hybrid batteries, etc.