"Demand Destruction?" What Demand Destruction?

Link here.

Despite steadily rising fuel prices in this year’s first quarter, deliveries of crude oil and petroleum products were up sharply from a year ago, according to the latest data from API.

In its monthly statistics report, API reported that total US first-quarter oil deliveries, a measure of demand, climbed by 5.5% from the 2010 first quarter. March deliveries surged by 7.3% to 20.5 million b/d from a year earlier.

I was going to do a stand-alone post on this subject; was thinking about it all day while out and about.

This article provides a good starting point -- if I find time to get around to it. For now, the article stands alone.