Irish oil demand down 25% in last three years, dropping faster than Greece's

[cimon9999]

There are mixed signals in Ireland's reduction in (12 month moving average) oil consumption from 193 kb/d in January 2009, to 144 kb/d in December 2011 - a reduction of 25%. Some portion of this is attributable to more efficient cars, more diesel consumption, grouping of shopping trips, and reduced flying. Another portion to increasing numbers out of work cutting down on commuting trips (although only 30% of Irish cars are used for commuting) and reduced road freight diesel consumption.

Overall, though, this reduction improves Ireland's trade balance and keeps more money in the economy. The economy's oil bill is still significant - at today's brent price ($117/bbl) and EURUSD (1.32), it comes in at €4.6 bn (144,000*365*(117/1.32)), or 3.7% of GNP.

Has anyone on P.ie consciously cut down their travel budget or dropped the car entirely?

Does anyone know why our oil consumption is dropping faster than Greece's?

[Spanner Island]

I've consciously cut back on mileage wherever possible.

I'm also considering taking a car off the road and sharing one with either myself or the person I share with as the named driver on the other's policy.

I'm not sure what the implications might be regarding insurance though - anyone know?

Would I lose No Claims Bonus if I went as named driver on another policy or vice versa?

The main attraction for me (in addition to saving a few quid), would be to deny the Government the VAT on one fully comp insurance policy, VAT on NCT of one car, the entire road tax on a car and reduced VAT and duty on fuel etc.

[drummed]

Interesting. Clearly the price is putting people off. If you live in a rural area no option to cut down on driving available.
Wonder is the smuggling of diesel a factor. Probably insignificant, or is it?

[Grumpy Jack]

The collapse in the cosntruction sector and the stagnation of retail may also have something to do with it.

[Fisherman1]

Got rid of one car over a year ago. Walk to work now. Not easy in the rain though this was a great winter. Much fitter, it is 5.2 mile to work and the same coming home.

Gave up smoking too and so did the missis. She was out of work for most of last year, I am in the PS can net income dropped dramatically recently.

Reckon there's at least a 15 k per annum revenue drop to government. Any extra going to pay down debt. Much as we would love to boost the retail, small business and big business incomes, we will not spend a bob till we are mortgage free. Bought a house in 2007, so plenty of time to regret our mortgage, and not spend a PENNY.

Thanks FF.

[Dylan2010]

oil was cheaper in 09 though?

[tigerben]

We're A two car family and only use the cars really for work, before we would go for random spins, or a planned day on a long car jouney out, no more, it's gone to expensive to waste petrol on a whim.

[Bhagavad Gita]

The construction industry is hugely energy intensive. The collapse of this sector of the economy would make up for the lions share of the drop in consumption.

It has very little to do with anything else you mentioned tbh.

[darkhorse]

The Green Party's dream is finally coming true
Their policies achieved a huge reduction in carbon emmissions - but not in the way they expected

[kerdasi amaq]

Now, what will the elected loolahs do to make up the revenue shortfall?