Energy demand

Crude oil prices are above $71 a barrel this morning.  The value of the U.S. dollar has fallen again.  One has to wonder whether the oil price rise reflects the market's belief that the economic recovery will drive demand, or is it because of the continued debasement of the worth of U.S.

Yesterday, the U.S. Energy Information Agency released its March 2009 Energy Monthly Report showing that total energy consumption fell 2% in 2008 while total energy production rose by 3.3%.  These trends help explain the sharp fall in hydrocarbon fuel prices during the second half of last year.  In the month of January, total energy consumption increased 2% from the same month in the prior year, but by December it was down 3%.  =>Continue Reading