Surge In World Petroleum Use Despite North American Drop
Worldwide consumption of petroleum has reached an all-time high of nearly 89 million barrels a day, according to an analysis by the Energy Information Administration.
That’s despite an overall decrease in North American petroleum use since 2005 and a surge in consumption from rapidly developing Asian countries like China and India.
Asia has become the world’s largest consumer of petroleum products like gasoline, heating oil and jet fuel.
In the meantime, the EIA credits the American economic downturn in 2008 and 2009, as well as stricter fuel economy standards combined with less highway driving with reducing petroleum use in North America.