Tag Archives: OECD

Why US Oil Consumption Might Drastically Decline in the Coming Years

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A lot of attention has been given to the optimistic assessments of future U.S. and Iraqi oil production in the IEA’s World Energy Outlook 2012. However, perhaps even more dramatic is the report’s prediction of a significant long-term decline in petroleum consumption from the OECD countries. For example, the report predicts about a 1 mb/d drop in U.S. oil consumption by 2020 and a 5 mb/d drop by 2035 relative to current levels. I was curious to examine some of the fundamentals behind petroleum consumption to assess the plausibility of the IEA projections.

Read more:  http://tinyurl.com/bgbldab

OECD says Canada to lead G7 in growth for next 50 years

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The Paris-based Organization for Economic Co-operation and Development predicts Canada will lead the Group of Seven industrialized economies in growth over the next half century.

In a report released Friday, the OECD says it expects Canada’s real gross domestic product will average 2.2 per cent growth annually over the next 50 years.

Read more: http://tinyurl.com/bamxbda