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In addition to more energy efficient homes and lightbulbs this is probably also being caused by a huge dearth of demand due to a down economy. Crude Oil prices
by sailfast 15y ago
In addition to more energy efficient homes and lightbulbs this is probably also being caused by a huge dearth of demand due to a down economy. Crude Oil prices drop during economic downturns for the same reason - the markets know that demand will be significantly lower.
Glass half full - hopefully this is a signal that we're becoming much more efficient in our consumption and we can produce the same economic growth with a lot less energy.
- gregable 15y agoThe article touches on this briefly and argues that for home usage, it's usually not too correlated with the economy. "Even when the economy is stagnant, people still watch TV and keep their ice cream cold." Oil prices are affected by non-home and non-personal energy use. In a weak economy, less industrial usage to make and transport things we buy and much less personal travel (fewer vacations, fewer flights).