In response to:

Oil Consumption Analysis

Daddio7 Wrote: Feb 09, 2013 2:51 PM
We have fallen off the jobs cliff. Many jobs have been taken by robots or foreign workers. For support the unemployed will have to tax money away from the robot owners or become subsistence farmers like the foreign workers were. There are few "skilled" positions to take and many people do not have the mental capacity to become skilled workers. In the past those people went into the wilderness and lived off the land. Now someone owns all the land and there are no unpopulated lands to emigrate to.

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

James Beck, Lead Analyst, Weekly Petroleum Supply Team for the Energy Information Administration has also chimed in on the subject.

For example, please see my September 16, 2012 article Email From Lead Analyst, Weekly Petroleum Supply Team on Possibility of Recession.

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

However, that explanation is faulty (as Wallace and I have...