Wednesday, December 24, 2014

Reduced Oil Consumption in the US is a Fantastic Development

Whatever the analyses might conclude - though Bloomberg typically does not say anything conclusive about why US oil consumption is sliding, beyond making some guesses - this is a great development. What is even more significant is the fact that a proper study of what is happening in the US, might have answers for the rest of the world, especially countries like India and China, where oil and gas use is on the increase. It is particularly interesting how Bloomberg are dismissive of nuclear energy, while China rushes ahead to build as many new nuclear powerplants as it can, and India tries to work with foreign nuclear powerplant suppliers and works at fighting its own anti-nuclear activists' propaganda. In any case, the US has a lot of knowledge that it could use to help the rest of the world become more efficient with how it uses fossil fuels. It will be interesting to see how this happens - some entrepreneur WILL take the challenge up in the years ahead.