Will demand for oil continuing to soar?

Yes. The biggest catalyst for oil's rise has been the simplest of words SPECULATION ... and now we have the balance between demand and supply.
Demand is at an all-time high, fuelled by the continued breakneck economic expansion of the Indian and Chinese economies.
With more than a billion people in each country, and both economies growing fast,manufacturers and consumers are sucking in energy at an ever-increasing rate. China's booming economy is sucking in a huge amount of oil

China overtook Japan as the world's second-largest consumer of oil in 2003 and is closing in on the US, with demand for oil growing at about 15% a year.
Analysts worry global demand for oil is so intense that supplies may not keep pace.
Demand will rise by an average of 2.2 million barrels a day next year, the International Energy Agency says, compared with the 1.5 million-barrel rise seen in 2007.

It says annual demand will rise 2% up to 2012, while other projections suggest demand could soar from about 90 million barrels a day to as much as 140 million over 25 years.
IT´S TIME OTHER FORMS OF ENERGY MADE ITS DEBUT....