America’s appetite for oil declined sharply as the economy weakened over 2008. According to the latest reported information from the Energy Information Administration (EIA), Monthly Oil Consumption oil consumption declined 13% y/y from September 2007 through September 2008.
Historically, the US has seen this type of demand erosion before. From [...]
Entries from February 2009
Dramatic Drop in Oil Consumption – What’s the Implication?
February 13th, 2009 · No Comments
Tags: Alternative Energy · Carbon Economics · Energy Costs · Energy Economics · Energy Expenditures · Hydrocarbon Fuels · Oil Energy · Oil Independence