Vehicle fleet growth to sustain oil demand

Bob Tippee Managing Editor-Economics and Exploration Progress in U.S. Passenger Car Emissiins [15076 bytes] The size and number of oil-fueled vehicles will sustain growth in worldwide demand for petroleum well into the next century. Top economists of several major oil companies made vehicle trends central to market projections presented at the Middle East Petroleum & Gas Conference in Abu Dhabi early in March. Market potential Kathleen Cooper, chief economist of Exxon Corp., cited currently "minuscule" per capita car ownership in the Asia-Pacific region and Latin America as one basis for expectations about high demand growth in those areas. In addi...

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