A new phrase has entered our energy lexicon—peak oil demand. The essential idea: prophets of doom who warned about a looming global petroleum shortfall (“peak oil”) were wrong; instead of a downturn in supply, we’re instead seeing the shrinkage of demand for oil. A non-problem just solved itself! Nothing to see, folks; move along. What’s wrong with this framing of our energy situation? Plenty. To understand what and why, it’s helpful to start with a sense of who’s crooning the “peak demand”…

Read more…

via OilPrice.com Daily News Update http://oilprice.com/Energy/Crude-Oil/Peak-Oil-Demand-Peak-Oil-Didnt-Go-Away-it-Just-Changed-its-Name.html