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India, China Look To Form ‘Oil Buyers Club’

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Why is Oil Consumption Declining in the US?

I have posted many charts by reader Tim Wallace that highlight declining oil consumption in the US.

Some readers have suggested improved gasoline mileage in cars is the primary reason.

However, that explanation is faulty (as Wallace and I have pointed out on numerous occasions) because mileage rates have steadily climbed over the years while the plunge in oil consumption happened abruptly at the start of the recession and never recovered.

OK, So Why the Drop?

Gail Tverberg on the "Our Finite World" blog explains in her excellent post Why is US Oil Consumption Lower? Better Gasoline Mileage?

Gail analyzes gas prices, miles driven, increased fuel mileage, and a decrease in industrialization. She concludes ...

Click here to read full article.



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