Gas prices are going up, but demand for petroleum is going down in the U.S. The Associated Press says that demand for petroleum fuel in 2010 is down 8% from its peak back in 2006. Will this downward trend continue?
Then again, even as demand for gas in the U.S. declines, developing nations like China and India are bursting at the seams with new money ready to buy a car. China alone could start seeing car sales exceed 50 million vehicles a year as early as 2030. Maybe they won’t make the same mistakes and ignore infrastructure in favor of personal transportation, but as somebody who loves cars, I know the appeal and allure of a car purchase all too well. Will there be enough to go around?
Source: Associated Press
Chris DeMorro is a writer and gearhead who loves all things automotive, from hybrids to Hemis. You can follow his slow descent into madness at Sublime Burnout.