Demand for Oil Set to Drop Again in 2009
Finding a silver lining in the gigantic economic mess that is gripping the world right now is pretty hard to do, but if you were to look for a silver lining, experts are predicting a major drop in oil demand and global emissions. Ideally, the drop in emissions would come as a result of people making responsible choices, not the expansion of poverty -- but the word on the street is that oil demand will drop 1.5 percent this year from 2008 levels, which were already down .4 percent from 2007 levels. If the experts are right -- and it looks like they will be -- this will be the first time that global demand for oil has dropped in two consecutive years since 1982-1983. To put that into some kind of concrete yet still unimaginably large and therefore abstract terms, the IEA estimates that the world will consume 270,000 fewer barrels of oil every day. On a related not, a professor at Cambridge University is predicting a 40-50% drop in greenhouse gas emissions due to the global economic downturn. So, that's kinda like a platinum lining for you.
[via Earth2Tech]
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