With the price of oil at all time highs are we now using less oil then we did in the past?

With the price of oil still climbing are we using less oil then we have in the past? We have cars that get better gas mileage now is that making an impact?

3 Responses to “With the price of oil at all time highs are we now using less oil then we did in the past?”

  1. LewDeKriS Says:

    Yes… here are some facts (and you should read this anyway, it is important, it is unbiased, and it is recent, not to mention, this reporting comes from both the auomotive industry and business sectors)

    This was from today in fact and should help to answer this question…

    AIADA (American International Automobile Dealers Association)
    May 14, 2008

    AIADA’s FirstUp: The (Real) Reason Behind High Oil Prices

    The (Real) Reason Behind High Oil Prices
    On May 13, the price of a barrel of oil briefly hit a record of $126.98 on the New York Mercantile Exchange. The reason was ostensibly that Iran was cutting oil production. But there is no gas shortage. In fact, in the U.S., stockpiles of oil climbed by 11.9 million barrels in April; they were up by nearly 33 million barrels since Jan. 1. At the same time, MasterCard’s May 7 gasoline report showed that gas demand has fallen by 5.8%. So why are prices still going up? Ed Wallace, writing in BusinessWeek, says prices are rising due to an unregulated commodities markets and greed. Commodities have often been the refuge for investors who have lost money on equities or fixed-income investments. If not restrained, they can drive up the price of goods that we can’t get out of buying. In the press we are bombarded daily with justifications for the high price of oil, such as strife in the Nigerian oil patch. However, the Senate took a dim view of those excuses, saying that manipulative hedge fund managers are "making bold predictions of shocking price advancements to come" and adding "more fuel to the bullish fire in a sort of self-fulfilling prophecy."

  2. Henry Ate My Eggo Says:

    Nope, because more people are using it.

  3. jonathan m Says:

    better gas mileage?

    since when is 22-44mpg better

    check this out you’ll be amazed

    The technology is out there to curb the U.S’s oil addiction.

    Water is the answer.