The Oil Drum: Natural Gas Concerns Continued

This past week has been one where, despite the torpor that starts to fill the summer press, the progress of reality across the energy supply situation is beginning to make its uncomfortable presence known in the MSM. We have, it appears, reached that time where demand destruction, a phrase I heard for the first time not that much more than a year ago, is now beginning more evidently to impact the demand side of the oil and gas balance between supply and demand.

As I noted the other day, when talking about the oil sands, cornucopian thinking still seems to control the attitude of government. The comment by the Canadian National Energy Board that Dave cited includes the comment on gas needs. This seems to imply that the demand increase is not that significant relative to supply. But to continue Dave’s thread onto a slightly larger scale, the failure to put the demand into a global picture can lead to considerable, and unfounded, complacency.
Much more after the jump to The Oil Drum.