Quote:
Originally Posted by PaulS
All of the factors I mentioned affect the supply and demand. Pricing is based on both supply and demand.
Add solar and tax breaks that drove higher demand for solar which inturn lowered the demand for oil. I believe demand is down from a couple of years ago but higher then more than a couple of years ago.
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Pricing is based on both supply and demand. "
I get that, I really do. And I agree 100% that things like tax breaks for rich people to drive electric cars, and for solar panels, will result in a slight reduction for US demand. But the price-per-barrel of oil is based on global supply and demand, not US supply and demand, isn't it? Maybe I'm wrong there. Do Americans pay a different price per barrel than people in other countries?
Here's a chart I found on worldwide oil consumption by year, and that line is only going in one direction.
http://www.indexmundi.com/energy.aspx