IEA: Why they have understated oil demand

[dan_s]

"According to auto-research company Edmunds, in 2015 and 2016, 40% of hybrid or electric-vehicle (EV) trade-ins in the US were for SUVs or trucks and over 10% for luxury cars. In turn, oil demand grew by 2.1m b/d in 2015, 1.8m in 2016 and should see out 2017 with growth of another 1.6m. Annual average growth between 2015 and 2017 will have been 1.8m b/d—almost double the forecasts just three years ago." Read full article here: http://www.petroleum-economist.com/arti ... -not-right

In my opinion, saying there is a "glut" of oil supply is like saying there is a glut of food just because American grocery stores are full.

Over 50% of the world's people would love to have more energy, but it isn't available to them.

IEA wants to believe demand growth is slowing because they lean left and think everyone should drive a tiny hybrid or EV.