Few boom cycles are left for the oil industry, Houston Chronicle

Chris Tomlinson argues that some day “boom” won’t follow “bust” in oil markets:

http://www.houstonchronicle.com/business/columnists/tomlinson/article/Few-boom-cycles-left-for-the-oil-industry-6792156.php?t=3cfd209006438d9cbb&cmpid=twitter-premium&utm_content=buffer5162e&utm_medium=social&utm_source=facebook.com&utm_campaign=buff

 

“For the last 20 years, per capita oil use has dropped in developed countries as fuel efficiency and public transportation use have grown.

In the U.S., fewer driver’s licenses and lower rates of automobile ownerships are two reasons for lower demand. Millennials and senior citizens are less likely to have driver’s licenses or own cars, relying instead on transportation networks like Uber and Lyft, or car-sharing services such as ZipCar and Car2Go.”

And this:

“The world will always need oil for some things, but petroleum’s days as the world’s primary transportation fuel are fading.”

But for now, there is this (from CarpeDiem):

http://www.aei.org/publication/thursday-morning-links-20/

And this from Automotive News (from December):

http://Cheap gas spurs SUV sales and puts U.S. climate goals at risk

“In November, fuel efficiency of vehicles purchased fell sharply to 25.0 mpg, down 0.8 mpg from a peak in August 2014, said University of Michigan researcher Michael Sivak, who tracks fuel efficiency in a monthly report. ”

 

And let’s not forget China:

“The CAAM statistics show that SUVs accounted for 29.6 percent of China’s passenger sales by the end of November, almost six times the ratio in 2006.”

http://www.chinadaily.com.cn/business/motoring/2016-01/11/content_23021478.htm