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World Oil Consumption Reaches New Heights

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According to a report by Worldwatch Institute, world oil consumption rose by 3.1% in 2010 to an all-time high of 87.4 million barrels a day. A previous brief decline of 1.5% was a result of the global economic crisis, which was more than made up for with last year’s spike.

There were a variety of findings on world oil consumption from the report, which noted that developing or industrializing countries had a large impact on the increasing consumption, which will continue to be the case as long as those countries continue to develop and urbanize. Developing countries that do not belong to the Organisation for Economic Cooperation and Development consumed 20% more oil, while developed countries that are part of the organization lowered their use by more than 7%.

In 2010 oil was still the world’s largest primary energy source, yet its share fell to 37%, a decline that’s been present for 11 years. China now accounts for more than 10% of the world’s oil consumption. World oil production fell in 2009 to 80.3 million barrels a day due to lower demand as a result of the global financial crisis.

This increase in world oil consumption offers even more reason to live, shop and work locally, cutting down or eliminating time spent in the car. Sounds like one of the simplest solutions, doesn’t it?

Via Sustainablebusiness
Image CC licensed by zoonabar

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