Wednesday, November 2, 2011
It's been a while since we've checked in on US oil consumption. The above graph shows the EIA's data since 2000 - both the weekly and the monthly series. The monthly series is believed to be more accurate, but the weekly series is more up to date - going through the week before last, versus August for the monthly series.
In any cases, both series tell more-or-less the same story: after growing in the recovery following the great recession, US consumption is generally declining in 2011 in the face of a weak economy and fairly high oil prices.