»BP CEO Says U.S. Gasoline Demand Won’t EVER Return to 2007 Level: WSJ Link

Discussion in 'Economics' started by ByLoSellHi, Nov 20, 2009.

  1. http://online.wsj.com/article/BT-CO-20091119-717979.html

    NOVEMBER 19, 2009, 7:07 P.M. ET

    BP CEO Says U.S. Gasoline Demand Peaked In 2007

    NEW YORK (Dow Jones)--
    U.S. gasoline demand, hammered by the recession, will never return to 2007's peak as greater use of biofuels and increased engine efficiency cut consumption of the fossil fuel, BP PLC (BP) Chief Executive Tony Hayward said Thursday.

    "We will never sell more gasoline in the U.S. than we sold in 2007," Hayward said in an interview with Dow Jones and The Wall Street Journal. That year, BP sold an average of 1.57 million barrels a day of its gasoline products, with sales slipping 4.6% in 2008, according the company's annual reports.

    Hayward's comments reinforce ...
  2. Peak gasoline? :cool:
  3. pitz


    Remember all those f*cking morons on TV who said, when petrol prices were high:

    "America hasn't built a refinery in decades"
    "The oil industry is being completely irresponsible by not meeting demand"

    Remember that?

    Pfft, just makes me mad that people think they have an entitlement to inexpensive refining (the refining business, in the past 30-40 years, has barely been profitable), "how dare refiners actually make a profit on their billions of dollars of investment".

    Morons are ruining this country.