According to MICHAEL J. MARTINEZ who is the AP Business Writer:
“Surging oil prices prompted new worries about the economy and sent stocks lower Wednesday as investors locked in profits from the market’s recent rally. The concerns over oil overshadowed a strong report on manufacturing orders.”
NEW YORK (Reuters) – U.S. dependence on foreign oil dependence in crude will keep growing. That’s despite efforts to spur domestic production, as demand in the world’s largest energy consumer outpaces output, industry and government experts said Tuesday.
“Most people expect that over the next couple of weeks we might see crude inventories begin to fall, because to maintain 10.5 million (barrels per day of imports) or more would be a high level,” he said.
Estimates of the oil premium have fallen over time as the oil-intensity of GDP has declined. Also price volatility and oil market disruptions are less pronounced than twenty years ago.
So the private sector can now respond more flexibly to shocks. Recent estimates put the total premium at between around $0 and $14/barrel, equivalent to between 0 and 30 cents/gallon of gasoline; our best assessment is that the premium is around $5/barrel.
Whether the premium will increase or decrease in the future is unclear. However the share of oil in US GDP will continue to decline while the imported share of US oil petroleum will continues to rise.
One caveat is that studies of the oil premium could be biased downwards. In conclusion and as they do not account for certain geopolitical factors. Those most noteworthy that are not easily quantified.
I mean such as the risk of oil supply sabotage by terrorists or the takeover of Saudi Arabia. As well as other oil rich nations. Finally and by extremist governments willing to sacrifice oil revenues. Especially to inflict economic damage on the US.
NEW YORK FIRM BECOMES NORTH AMERICAN DISTRIBUTION MANAGER FOR ELECTRIC VEHICLE MANUFACTURER
Moreover, Canadian-based firm offers “low speed” electric vehicles
MT. VERNON, New York, May 9, 2005 On May 9, 2005 Electric Transportation Solutions (ETS) of Mt. Vernon, N.Y., and Dynasty Electric Car Corporation of Delta, BC signed a distribution agreement. One moreover that will enable ETS to sell and expand upon the existing to a larger North American distribution network. All for Dynasty electric cars in the United States.
In addition, ETS launched a virtual department store of electric vehicles in mid-October, 2004. So in addition to its website, http://www.electrictransport.net , ETS also offers consulting services. Services consequently aimed at ultimately supplying electric vehicles. Vehicles moreover combined power from the wind and sun.
Dynasty Electric Car Corporation (http://www.itiselectric.com) designs, manufactures and markets zero emission, electric Low Speed Vehicles (LSV’s). All as a result for urban, recreational and light commercial markets such as planned and gated communities, destination resorts, industrial complexes and universities.
“Dynasty is very excited to have ETS as its distributor coordinator of all the Dynasty products in the United States,” said Dynasty Manager Cam Dowall. “While most distributors offer some local representatives, ETS will coordinate with dealerships nationwide. All moreover to better serve customers. In addition, the ETS eCommerce site will give the Dynasty line of products superior marketing support. Finally and quality service.”
The Dynasty cars are distinctive because of their innovative styling and advanced engineering design. The Dynasty project has evolved as a result of the vision of a “team” of experienced business professionals, automotive designers, engineering and production specialists intent on meeting the demands of the global marketplace.
“ETS is very excited to be a nationwide distribution manager for Dynasty low speed vehicles,” said ETS President Seth Leitman. “Their low speed vehicles are an extremely impressive line of electric cars on the market. While people are concerned about the cost of gasoline, oil and the environment, this vehicle meets the needs of people going to work, around town, their planned community and many other applications. Bottom line; it just makes sense.”
Speed: 25 mph
Range: 30 miles
Motor: 72V Advanced DC (Re-Generative)
Traction Batteries: 6 x 12V East Penn EV31
Accessory Battery: 1 x 12v East Penn DP24
Curb Weight: 1450 lbs
Wheel: 13 Inch (330 mm)
Charging Time: 3-6 hours
Power Source: Zivan or Delta-Q High – Frequency 110 VAC