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by gramstrong
2734 days ago
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It doesn't seem that much has changed in terms of local consumption. We've reduced our crude oil imports by almost the same amount that we've increased our crude oil exports. At least that is what I'm lead to believe by the EIA website. |
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It's now at 11.6 million. A gain of roughly six million barrels per day.
US crude oil exports will average around two million barrels per day for 2018.
Net difference for 2018 is at about four million barrels per day, of less oil imported versus ~2011 and prior. We're importing a lot less oil than a decade ago, while we're simultaneously at a tipping point where oil consumption is about to begin declining (previously we had already dramatically expanded our economy while using far less oil per inflation adjusted dollar of GDP output; next we'll press downward on actual oil consumption). The US isn't using much more oil than what it was in 1978 approximately (most of the growth is population growth based). The per capita use has declined considerably and is back to about where it was 50 years ago.