The Summer Outlook for Gasoline Supplies and Prices
Looking back over the last 50 years, annual motor gasoline demand in the United States rose from 2.4 million barrels per day (mmbd) in 1949, to a peak of 9.3 mmbd in 2007, an annual average growth rate of nearly 2 percent. This analysis reviews the forces at work that are likely to affect U.S. motor gasoline demand, supply and prices during the 2009 summer driving season and beyond.
Climate Change Legislation Blocked Despite Concessions
Despite months of intense negotiations, and ongoing encouragement from President Obama, cap-and-trade legislation continues to be a difficult sell in Congress, and it remains unlikely it will be ready for the President’s signature in 2009.
In recent weeks, it’s apparent that members of the U.S. House—Republicans and Democrats alike—share the U.S. Senate’s concerns about the cost of cap-and-trade legislation and are proving a serious impediment to passage, despite optimistic forecasts from Energy and Commerce Chairman Henry Waxman (D-Calif.) that the bill would pass the House by Memorial Day.
More headlines from this issue:
» Russia: Resource Nationalism Waning?
» Salazar’s Expanded Role in Obama Energy Policies
» Energy Investments Down, Prices to Rise
» State Energy Policies Roundup
» GHG Registry Facing Criticism
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