Wednesday, May 11, 2011

Increased Oil Drilling vs. Lowering Demand: Two concepts enter, one concept dominates

Here's an awesome chart from the Natural Resources Defense Council. The point of the chart is to show that increased drilling will have a ridiculously small impact on oil price and supply vs. something like more public transit. Yeah, we can increase supply, but it's not going to drive prices down as much as lowering demand. And in the near term, increased drilling doesn't even register on the oil price reduction scale.

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