New World Oil Demand Blasts Past Old World

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		Tech Entertainment Wall Street Markets Strategy Sports Lifestyle Politics Europe Video Latest Tuesday, January 24, 2012 New World Oil Demand Blasts Past Old World Oil demand is markedly different in the old world, which refers to the U.S., western Europe and Japan; and the new world, which is identified as the rest of the world, according to Ed Yardeni. Crude oil use in the old world has slipped back to the recession lows of 2009, while demand in the new world surged to 51.5 million barrels per day last year, according to Yardeni. New world oil demand grew 2.8% in 2011, compared with a 1.2% decline in the old world. In fact, new world oil demand now exceeds old world demand by 36%. Unsurprisingly, oil demand was the lowest in Western Europe, falling to the lowest level since the end of 1994. Here's a chart from Dr. Ed's Blog that shows the different trajectories that old and new world oil demand are on. Don't Miss: The U.S. Energy Outlook From Now Through 2035 >   Read » Also On Money Game Today: STOCKS STUMBLE, ALL EYES ON APPLE: Here's What You Need To Know PwC: Half Of CEOs Think The Global Economy Will Decline In 2012 A Scary Indication Of How Long This Jobless Recovery Could Last PETER ORSZAG: The US Is Facing A Perfect Storm Early Next Year Advertisement CHART OF THE DAY: Does Anyone Else Think These Charts Look Similar? CHART OF THE DAY: Here's One Metric That Banks Are Delighted To See Shrink CHART OF THE DAY: Send This To Anyone Who Talks About Uncertainty Share this: Facebook Twitter Digg Reddit StumbleUpon LinkedIn The email address for your subscription is: dwyld.kwu.jobhuntportal11@blogger.com Change Your Email Address | Unsubscribe | Subscribe | Subscribe to the Money Game RSS Feed Business Insider. 257 Park Avenue South, New York, NY 10010 Terms of Service | Privacy Policy

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