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Has US oil consumption decreased because of peak oil?

from By Stefanie Heerwig

U.S. oil consumption has declined by more than 20 percent, giving peak-oil theorists their confirmation — world crude oil production is decreasing. And no matter how much U.S. production increases, everyone will feel the squeeze in the face of rising international oil prices. It is really hard to argue against this. After all, rising oil prices and decreasing consumption could be easily explained by one of the core peak-oil theories: the export-land model. So is this truly the end of oil? more


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