Energy Costs More, but We Use Less

Energy Costs More, but We Use Less
Slightly higher prices for gasoline, heating oil, and electricity have offset savings from efficiency gains and a decrease in energy usage (Source: U.S. Energy Information Administration; Photograph by NASA)
Source: U.S. Energy Information Administration; Photograph by NASA

Thanks to gains in efficiency and cutbacks in consumption, the U.S. is on pace to use 7 percent fewer BTUs of energy in 2012 than four years ago. Slightly higher prices for gasoline, heating oil, and electricity have eaten into those savings. Consumers are likely to spend $641 billion on energy in 2012, down about 2 percent from 2008.

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