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Oil Consumption Analysis

Maximus2 Wrote: Feb 09, 2013 4:49 PM
When we don"t tap our own resources in what use to be the good old US of A we are held hostage to world market prices no matter how much we consume. The price of oil and gas in N.Y. state borders on the criminal.
Curtis108 Wrote: Feb 09, 2013 9:33 PM
If we use our resources, guess what? They will be priced at world market prices. Please, never forget that the Alaskan pipeline served only to send North Slope oil to Japan, and thus did nothing to help US consumption but lower the world market price.

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...