US gas de­mand should fall for good af­ter 2006

The Pak Banker - - International -

NEW YORK: The world's biggest gas-guz­zling nation has lim­its af­ter all. Af­ter seven decades of mostly un­in­ter­rupted growth, U.S. gaso­line de­mand is at the start of a longterm de­cline. By 2030, Amer­i­cans will burn at least 20 per­cent less gaso­line than to­day, ex­perts say, even as mil­lions of more cars clog the roads. The coun­try's thirst for gaso­line is shrink­ing as cars and trucks be­come more fu­el­ef­fi­cient, the govern­ment man­dates the use of more ethanol and peo­ple drive less.

"A com­bi­na­tion of de­mo­graphic change and pol­icy change means the heady days of gaso­line grow­ing in the U.S. are over," says Daniel Yer­gin, chair­man of IHS Cam­bridge En­ergy Re­search As­so­ci­ates and author of a Pulitzer Prizewin­ning his­tory of the oil in­dus­try. This isn't the first time in U.S. his­tory that gaso­line de­mand has fallen, at least tem­po­rar­ily. Driv­ers typ­i­cally cut back dur­ing re­ces­sions, then hit the road again when the econ­omy picks up. -Reuters

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