Total U.S. energy expenditures in 2015 were the lowest in more than a decade

Expenditures for delivered energy in the United States in 2015 totaled $1.127 trillion, a 20% decrease in real terms from 2014, according to recently released data from EIA’s State Energy Data System. Adjusted for inflation, total energy expenditures in 2015 were the lowest since 2004. Total energy expenditures, expressed as a percent of the United States gross domestic product, were 6.2% in 2015, the lowest since 2002.

About 45% of total U.S. energy expenditures in 2015 were in the transportation sector and mainly included fuels used for automobiles, rail, aircraft, and waterborne vehicles such as ships and barges. The 28% decline in transportation sector expenditures between 2014 and 2015 was the result of lower fuel prices, as energy use in the sector increased by about 1%.

Declines in petroleum product prices accounted for almost all of the overall price decline, as petroleum-based fuels accounted for 97% of total consumption in the transportation sector in 2015. Petroleum prices were at their lowest level since 2009, while natural gas prices were at their lowest level since 2002. In total, the U.S. spent about $507 billion on transportation sector energy in 2015…


Click Here for Remainder of Article 

Posted in: Daily News

About the Author:

Post a Comment