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I wouldn't say that oil demand has peaked from looking at that graph. I'd say it took a big hit right around the time of the 2008 financial crash and is recove

I wouldn't say that oil demand has peaked from looking at that graph. I'd say it took a big hit right around the time of the 2008 financial crash and is recovering along with the rest of the economy, or perhaps lagging somewhat.

joshuahedlund 13y ago
There's definitely a hit from the financial crash, but there's also been no increase since that drop for four straight years, during which the economy has presumably been recovering, albeit slowly; I suspect the decrease in retiring Boomers driving, decrease in new teenagers driving, increase in fuel efficiency, increase in non-driving entertainment like social networks, etc are all outweighing the hundreds of thousands of jobs that have been created since then. The huge growth in electric vehicles in the last 2-3 years[1] is probably to small to have an impact on that graph now, but give it a few more... [1]http://si.wsj.net/public/resources/images/IV-AA467_ECARS_G_20130920100014.jpg http://si.wsj.net/public/resources/images/IV-AA467_ECARS_G_2...
- specialist 13y ago
  Historically, GDP has been strongly correlated with fossil fuel consumption. I've been wondering if that's still true.