I have posted many charts by reader Tim Wallace that prominence disappearing oil expenditure in a US.
James Beck, Lead Analyst, Weekly Petroleum Supply Team for a Energy Information Administration has also chimed in on a subject.
For example, greatfully see my Sep 16, 2012 essay Email From Lead Analyst, Weekly Petroleum Supply Team on Possibility of Recession.
Some readers have suggested softened gasoline mileage in cars is a primary reason.
However, that reason is inadequate (as Wallace and we have forked out on countless occasions) since mileage rates have usually climbed over a years while a thrust in oil expenditure happened abruptly during a start of a retrogression and never recovered.
OK, So Why a Drop?
Gail Tverberg on a “Our Finite World” blog explains in her glorious post Why is US Oil Consumption Lower? Better Gasoline Mileage?
Gail analyzes gas prices, miles