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Archive for July 7th, 2007

Gas Consumption Still Going Up In Canada

Saturday, July 7th, 2007

Gas prices are up from last year, yet our consumption of Gas is also up, guess my statement that Gas demand is completely inelastic (i.e. price increases do not affect demand at all).

Sales of refined petroleum products
May 2006r May 2007p May 2006 to May 2007
thousands of cubic metres % change
Total, all products 8,230.2 8,973.5 9.0
Motor gasoline 3,486.1 3,709.9 6.4
Diesel fuel oil 2,268.0 2,405.8 6.1
Light fuel oil 224.9 273.0 21.4
Heavy fuel oil 430.1 614.0 42.7
Aviation turbo fuels 592.6 589.1 -0.6
Petrochemical feedstocks1 414.0 407.0 -1.7
All other refined products 814.5 974.8 19.7

On this day where we are supposed to be thinking about the environment it suggests Canadian demand for fossil fuels is not dropping.

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