Oil usage within the United States has started a steady decline, which will continue indefinitely. President Obama has drastically increased fuel efficiency, something that has brought down demand for fuel. On top of that, the rise of electric vehicles is starting. EV's are starting to infiltrate the market in growing numbers that are too big to deny. As the economy continues to rebound, we will see more higher fuel costs and thus a greater demand for alternatives. These alternatives will come in the form of the EVs, hybrids, and even in the home. In 2015, you can say goodbye to inefficient incandescent light bulbs that waste an insane amount of energy. That is just one step, among many, that will bring and end to oil.
Oil consumption will continue to decline in the United States. For one, increasing scarcity and price fluctuations means it is a less and less reliable source of energy and Americans will increasingly seek alternatives. Second, new technology means that we need to consume less oil. Automobiles become more efficient every year for example. Third, population growth in America is slowing and projected to continue to do so, meaning demand for all resources will not increase nearly the same as in the past.
I do not think that oil consumption will continue on this trend of declining. As the economy gets better more people will be able to use more resources that require oil. I truly believe that this decline is only temporary. We should e an increase in the very near future.
Oil is an unfortunate necessity in this country. The government isn't too keen on working towards an affordable alternative. Huge SUVs still seem to be popular, in spite of the high costs of oil that we have been faced with. I don't know how to explain the decrease in oil use but I do know it will pick back up, as will the prices of oil.
US oil consumption has declined because our country is in a Great Recession. The cost of fuel greatly affects the mobility of people. When gas was $1.50 per gallon, people though nothing of driving anywhere, anytime. At $4.00 per gallon, people decide to just stay home rather than spending the money to travel. Many people are unemployed and have no extra spending money. Many businesses are laying people off instead of investing. Oil consumption will remain lower as long as economic activity in the U.S. is stagnant or on the decline. But I am hopeful that our economic condition will improve, and when it does, our oil consumption will tick upward.