Oil-Demand Plateau Seen as Natural Gas Favored: Chart of the Day
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Oil demand may reach a plateau worldwide by the end of the decade as cars, trucks, railroad engines and power plants increasingly use natural gas instead, according to Citigroup Inc. analysts.
As the CHART OF THE DAY illustrates, U.S. prices for the fuels provide an economic incentive to make the switch. Crude oil is about four times more expensive than gas for a similar amount of energy, measured in British thermal units, based on New York futures trading.