The energy industry will see peak oil demand before it sees peak oil supply, according to Joseph Stanislaw. "Demand is a powerful force. China alone puts a floor on world oil demand." He spoke at Deloitte's oil and gas conference in Houston last month. Stanislaw is an independent senior advisor to Deloitte's energy and resources practice, and is the founder of The JAStanislaw Group. He foresees growth of 8% to 10% in Chinese oil demand, and nothing ahead that would change this scenario except a major world recession. As U.S. demand is growing as well, Congress should act to encourage conservation, greater energy efficiency in autos, and other ways to tamp demand growth, he added. "Energy efficiency is very important. It's like having thousands of termites in your house-you never see them until the wall collapses. Thousands of little changes in the way we use energy, which may seem insignificant, add up to make a very big difference." For more on this, see the January issue of Oil and Gas Investor. For a subscription, call 713-260-6441.
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