During the last recession, world oil demand fell by 3.4 million barrels a day between the first quarter of 2008 and the second quarter of 2009. (jeffrubinssmallerworld.com)
With little new oil to be discovered and world oil demand growing fast, companies appear to be realizing that their reserves will become even more valuable in the future. (treehugger.com)
In that sense, the net effect on world oil demand of Energy East is what matters, and it would be negligible. (macleans.ca)