Oil demand at six year low
by admin on June 11, 2008
Rising oil price sends demand growth to six-year low
You won’t notice it at the pump while filling up your car or by the earsplitting cries from Chicken Little false environmentalist but the demand for oil is at a six year low. The overinflated price of oil futures and the dismantling of government subsidies in Asian countries are driving the drop in demand.
Geological pressures are replenishing old oil fields in Texas and the Gulf of Mexico. Neither the socialist driven faux environmental movement nor the monopolistic oil companies want you to know the Earth is literally swimming in energy supplies.
Oh, yeah our neighbors in the deep south just discovered yet again more oil reserves. The BBC has reported that Brazil has discovered two additional reserves with half of the nations total oil discovered in the last 15 years. A senior minister said Brazilian oil production had the potential to match that of Venezuela and Saudi Arabia. Brazil will soon become an oil exporter, but don’t tell your neighbor there could be a revolt the next time he fills up his SUV.
Source: http://www.dailynewscaster.com/2008/06/10/oil-demand-at-six-year-low/
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