Adhesives Magazine

Oil Demand Down the Most Since 1982

August 13, 2008

January-June oil demand in the United States had the largest volume decline since 1982 - an average of 800,000 barrels/day compared to the same period last year, the Energy Information Administration reported on Tuesday.

Reasons for the huge drop include slower U.S. economic growth and the impact of high petroleum prices, the EIA said in its latest monthly energy forecast.

However, homeowners aren’t off the hook: the agency is warning that U.S. consumers will be hit with much higher heating fuel costs this winter, an average of $4.34 a gallon, up 31 percent from last winter.

Sounds like this would be a good time to start thinking about ways to reduce heat loss and energy use over the cold winter months. We live in an old, drafty home and can feel the chill indoors and out during the winter. That said, we’ve worked hard to make sure to keep the house as tightly sealed as possible, adding insulation, sealers around doors and windows, and not heating rooms that we don’t use in the wintertime. Perhaps the higher heating fuel costs will have an impact on the adhesives industry, with smart homeowners purchasing caulk and weather stripping to help keep the cold air out of their homes.