Bloomberg (paywalled): Global Oil Demand Hits Record and Prices May Climb, IEA Says
Global oil demand has surged to a record amid robust consumption in China and elsewhere, threatening to push prices higher, the International Energy Agency said.
World fuel use averaged 103 million barrels a day for the first time in June and may soar even higher in August, the agency said in a report. As Saudi Arabia and its partners constrict supplies, oil markets are tightening significantly.
Our politicians tend to ignore what everything is made or created from…
Soooo, they don’t include a doubling or tripling of its use to generate this fantasy we are currently in.
I think this is an un-paywalled summary of the IEA forecast:
https://www.reuters.com/markets/commodities/iea-lowers-2024-oil-demand-growth-forecast-2023-08-11/
Its ok, Canadians paid their carbon tax so everything is sorted already.
https://www.gasbuddy.com/gasprices/california/lafayette
So much demand that you can pay $ 5.49/gal in the lillywhite suburbs of CA
Ah heck kenji, thas price of fuel at Lloydminster, beside the Cenovus oil upgrader. Oil is only 1500 ft underground.