How Cutting Back on Driving Helps the Economy and is the biggest factor in reducing oil consumption | Streetsblog USA

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While all of the models constructed by the experts, including the Energy Information Administration at the Department of Energy, predicted that U.S. petroleum consumption would grow from 18 to 30 million barrels per day between 1970 and 2030, something very different is happening: U.S. oil consumption has leveled off at about 21 million barrels per day. Even though population is increasing, and the economy is still growing, petroleum consumption has been essentially flat.

What’s keeping consumption down? According to the CEA analysis, transportation explains 80-90 percent of the trend. While industrial, commercial, and residential energy use have generally followed predictions, energy use for transportation is far below where it was predicted.

And within transportation, the big savings have come from a surprising source. While many people focus on improved fuel efficiency of cars, that actually turns out to be a negligible factor in cutting energy use. Better gas mileage accounts for only about 15 percent of the difference in 2014. The big factor is that Americans are driving less: vehicle miles traveled are far below projected levels.

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How Cutting Back on Driving Helps the Economy and is the biggest factor in reducing oil consumption | Streetsblog USA

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