SalemNews.com, Salem, MA

Business

Discussion

The Salem News has a real-name policy for commenting. Users may sign in using the Facebook Connect tool above the comments field. Once your first comment is posted by a moderator, all future comments will post automatically. If you prefer not to use Facebook, send an e-mail with your comments user name (which must be the same as your real name), city or town, street address and daytime phone number to comments@salemnews.com. A staff member will contact you directly to confirm your identity. It may take a day or two before you can post comments. Only your user name will be public. All users are required to follow our rules for commenting, which can be found here.

comments powered by Disqus
October 13, 2009

Report: Oil demand peaked in 2005 for West

NEW YORK (AP) — An international energy think tank says oil demand in developed countries likely peaked in 2005, well before the recession sent crude prices plummeting.

IHS Cambridge Energy Research Associates said Tuesday that oil consumption started to slump four years ago as consumers bought more efficient vehicles and countries expanded their use of alternative fuels like ethanol. Vehicle ownership also has leveled off in the developed world, as has the number of women in the workplace, CERA said.

The research report focuses on demand from 30 countries that are part of the Organization for Economic Cooperation and Development and make up 54 percent of the world's oil demand.

Demand for oil in the U.S. has fallen by 2 million barrels a day since 2005, according to the Energy Information Administration.

Text Only | Photo Reprints
Business

AP Video
CEO Salaries Become Sore Issue in Labor Disputes Facebook Sued by Investors Over Disclosures HP to Cut 27,000 Jobs, Save Up to $3.5B Investors Slap Facebook 11 Percent Lower Yahoo to Reap $7.1B From Alibaba Stake Facebook Shares Close Up Just .23 at $38.23 Future Uncertain for Post-IPO Facebook Facebook Shares Spike 10% Higher at Open Mark Zuckerberg Rings Nasdaq Opening Bell Verizon to End Unlimited Data Plans Facebook IPO: What You Need to Know GM Says It Will Stop Paying for Ads on Facebook On Zuckerberg's Mind: People, Not Shareholders Dimon Survives Votes on Pay, Chairmanship Raw Video: Protesters Target JP Morgan Meeting Poll: Half of Americans Call Facebook a Fad Could JP Morgan Losses Have Been Prevented? Fuzzy Resumes: A Look at Leaders Undone More Questions After Yahoo Leadership Fiasco Ground Broken for New Whole Foods in Detroit
NDN Video
Raw Video: Man Rescued From River in China Beyonce Entertains the First Family Celtics crush Sixers in Game 7 Alleged Lego Thief Faces Felony Charges Has Snooki Named Her Baby? Heat Wave Warms Holiday Weekend Inspiration for the class of 2012 Colorado College Student Shot While Trespassing Will Smith & Josh Brolin on "Men in Black 3" 80-Year-Old Skydiver's Nightmare Jump JWoww Sizzles in a Black Bikini Sliders on the Grill Cruise ship crunch Backstage With Beyonce Ultimate Creamy Potato Salad Pope's Personal Butler Under Arrest Jenny McCarthy's New Man Tyler's Classic Coleslaw Britney Spears Under X Factor Fire Flesh-Eating Bacteria Victim Hits Milestone
Comments Trcker