Why There Will Be No Recovery...

[JDOG]

'Peak Oil Demand,' Yes... But Not the Nice Kind: Why There Will Be No Recovery

http://www.theoildrum.com/node/6281#more

[metaforge]

Good stuff.  Not too much earth shatteringly new here, but he ties it all together nicely.  The aspirin/fiat analogy is a good one.

[BlueOwl]

This line was informative to me:

Most people thought the nearly 2 mbpd decline in U.S. petroleum demand from 2007 through 2009 owed to efficiency and people driving less.

In reality, only about 15% owed to reduced gasoline demand. The other 85% was lost in the commercial and industrial sector: jet fuel, distillates (including diesel), kerosene, petrochemical feedstocks, lubricants, waxes, petroleum coke, asphalt and road oil, and other miscellaneous products.

Very simply, when oil got to $120 a barrel it cut into real productivity, and forced the world's most developed economies to shrink. At $147, it wreaked serious damage.

In other words, people weren't car pooling, walking, or just going w/o that extra trip to the DQ for a frozen rocket-pop (some were, but it was chump change to this>>>), the manufacturing economy (and all the jobs and related jobs of trucking, hauling, mining, packaging, reselling, etc.) was crashing and burning.

[paland]

Actually that quote is right on (From Blue Owl's post).  many road projects were canceled or postponed due to the crash.  And I don't think its going to pick back up ever.  That is one reason we are not feeling the effects of PO yet.  But just give it three more years (or less) and it will become obvious, even to the most adamant denier.

[paland]

repeat post