http://www.gbm.scotiabank.com/English/b ... s_auto.pdf
Global vehicle sales continue to strengthen, with volumes (excluding
China) advancing 6% above a year earlier — the strongest gain since
February 2011, prior to the tsunami in Japan last March. (We exclude
China from last month’s performance, as sales were impacted by an early lunar
New Year, and a clearer picture of the health of the auto market in China will
only emerge once data are available for the first two months of 2012.)
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The automobile fleet grows exponential 6%/a while the crude oil production is in exponential decline 4-6%/a!
Source: US Department of Energy, Transportation Energy Data Book.
Interesting times will follow @ the pump....
http://en.wikipedia.org/wiki/Motor_vehicle
M_B_S
http://www.chicagotribune.com/business/ ... 4352.story
Exxon Mobil Corp said on Thursday its 2012 oil and natural gas output would drop 3 percent from last year even as it increases spending to bring several large new projects on line, pushing its shares lower.
Despite the expected drop in 2012, production should grow by an average of 1 to 2 percent annually through 2016, the company told analysts in New York.
