Quote:
Originally Posted by adam
Consumption has decreased. Consider:
Products are not being produced or consumed at the rate they were. If they aren't being consumed or produced, they aren't being shipped at the rate they were previously. This includes freighters from China, etc.
Also companies are shutting down so there are fewer corporate trucks/vehicles on the road. Unemployment rates are going up - so there are fewer commuters on the road.
Sorry I don't have time to cite or source these things. But let me know if I've overlooked something.
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I read somewhere (unfortunately I can't remember, I'll have to hunt for it) that the number of miles driven in the US is only down a measly 1% year over year. Since oil in North America is mainly for personal vehicle use compared to natural gas or coal for industrial uses (and natural gas prices are in the toilet), it is a reasonable bet oil is going higher. And so the commuters in Ontario will suffer. Especially next year when the PST kicks in on gas.
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