Sunday, July 20, 2014

America's Oil Consumption Is Rising, Not Falling, Outpacing China's

In 2013, the nation’s demand for gasoline rose for the first time since 2007, and the trend is continuing in 2014, dampening hopes that the world's largest oil guzzler is reining in its appetite for crude. (Credit: Charles Minshew/KOMU) Click to enlarge.
U.S. oil demand reversed course in dramatic fashion in 2013, as the nation's growth in crude consumption outpaced perennial leader China for the first time since 1999, according to oil company BP's annual compendium of world energy statistics.

The U.S. increase follows two years of declines, and dampens hopes that the world's largest oil guzzler was permanently reining in its appetite for crude. The nation's oil use rose by 400,000 barrels per day to a daily draw of 18.9 million barrels; China's oil consumption grew by 390,000 barrels a day, to 10.8 million barrels a day, according to the BP figures released last month.

America's Oil Consumption Is Rising, Not Falling, Outpacing China's

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