124,000 barrels of oil a day sure sounds like a lot, doesn't it?

It is, until you compare it to the average daily U.S. oil consumption, which is around 8.5 million barrels a day (bbl/d). At least, 8.5 million was the number in the first quarter of 2011, according to the U.S. Energy Information Administration. In 2012, it was 124,000 bbl/d lower (around 8.4 million bbl/d). The drop is due to many factors, including improved vehicle efficiency and lower household gasoline consumption.

The final figures are not out yet, but the EIA thinks the second quarter of 2012 might reveal a slight increase compared to Q1 but that, overall, the amount of gasoline that the U.S. burns every day is currently well below the 5-year range of 2007-2011, as you can see in the chart above.

In announcing the low usage rates, the EIA also offered up the follow numbers, which we think should be filed away for future discussions:
  • U.S. gasoline consumption peaked in 2007 at 9.3 million (!) bbl/d.
  • In 2011, the average price for a gallon of gas was 74 cents higher than it was in 2010.
  • For the first three months of 2012, the average price for a gallon of gas was 31 cents higher than for the same period in 2011.
See more tidbits below.


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    • 1 Second Ago
  • 13 Comments
      Nick
      • 2 Years Ago
      Can you imagine how much oil that is? We're burning almost 10 MILLION GALLONS, every single DAY ! And then people have the nerve to think that burning all this has no effect on the environment and climate. HAHA
      Scambuster
      • 2 Years Ago
      Since 2007, the price of a gallon of gasoline has climbed more than $1.00 despite reduced consumption and abundant supply. And the government tells us there is no inflation.
      Joeviocoe
      • 2 Years Ago
      27 gigawatts of coal-fired capacity to retire over next five years. The 27 GW of retiring capacity amounts to 8.5% of total 2011 coal-fired capacity. http://www.eia.gov/electricity/monthly/update/
        paulwesterberg
        • 2 Years Ago
        @Joeviocoe
        The U.S. is generating 20 times more electricity from wind than it did in 2000, and now has 50 GW of wind power installed, another 9 GW is currently under construction.
          ak47
          • 2 Years Ago
          @paulwesterberg
          Not if Romney becomes POTUS...he hates "green jobs" esp. wind ones http://www.businessweek.com/ap/2012-08-07/romneys-green-jobs-criticism-carries-risks#p1
      usbseawolf2000
      • 2 Years Ago
      The best thing about those gas saved by hybrids.... They were not substituted with electricity.
        Joeviocoe
        • 2 Years Ago
        @usbseawolf2000
        yes, but Plug-in hybrids and Pure battery hybrids still save just as much energy in the same way. Regen braking is included. So it is NEVER a one for one "substitution" as if every KWH not driven on gasoline, will be driven on grid power.
          Joeviocoe
          • 2 Years Ago
          @Joeviocoe
          ug... I didn't explain that right. Regular (non-plugin) hybrids save energy in two ways. 1) Regen braking recaptures energy of motion that is normally lost to heat. 2) The engine operates within a more optimal power band and is thus more efficient. So an ICE can go from, let's say, 25% to 30% efficient. 1) For plugin hybrids, the same energy recaptured by regen braking is there. 2) The Electric motor is already over 80% efficient... so there is already MUCH more improvement. So, your reasoning is flawed. A regular hybrid saves gas by being more efficient from Pump to Wheels. But a PHEV or BEV is already MUCH more efficient there too.
      usbseawolf2000
      • 2 Years Ago
      Prius effect, specifically Gen2! I think the hybrid tax credit was a great investment.
      Joeviocoe
      • 2 Years Ago
      http://www.eia.gov/electricity/ Average Pecentage of electricity sourced from coal is down to 37% this year.
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