16 Jun '11, 12pm

Who Will Step Up to Meet Oil Demand?: A report predicts that Canada, Brazil, Colombia and the United States will...

Who Will Step Up to Meet Oil Demand?: A report predicts that Canada, Brazil, Colombia and the United States will...

For those of you who use gasoline or diesel to get to work in the morning, you may have a problem, in case you haven’t noticed prices at the pump lately. Getty Images A gas station in New York City. Oil demand in the United States is expected to be relatively flat over the next five years, but China’s will soar, a report predicts. According to a report released on Thursday by the International Energy Agency, total oil production each year from 2010 to 2016 will have grown by an average of 1.1 million barrels a day. But that is 100,000 barrels a day less than the average growth in global demand expected over the next five years. “After the sharp increase in oil demand in the second part of 2010 as the global economy recovered more quickly than anticipated from the recession, we now foresee higher mid-decade demand,” the report stated. Forty percent of the demand growth will...

Full article: http://green.blogs.nytimes.com/2011/06/16/who-will-step-u...

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