Slide 7 of 30
- The total petroleum consumption in the United States has grown at an average annual rate of 0.5 percent, during the past 25 years.
- Following the 1973 OPEC price increases, U.S. consumption of petroleum declined for 2 years to a level of 16 million barrels per day by 1975. After which it rose until 1979 when the Iranian revolution caused the oil price to rise and consumption to decline.
- A marked decline in petroleum consumption in the United States continued into the early 1980's. By 1983, the United States was consuming a low of 15.2 million barrels per day-a decline of almost 20 percent from the record consumption level of 18.9 million barrels per day in 1978.
- Since 1983, the United States has experienced a rather steady increase in petroleum consumption. The present-day consumption level is nearly equal to the 1978 all-time high petroleum consumption level.
- In 1990, another oil price increase during the Persian Gulf war caused a slight and temporary decline in U.S. oil consumption.
Source: Energy Information Administration, Annual Energy Review 1997, DOE/EIA- 0384(97). (Washington, DC, July 1998), Table 5.1.
