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us market adjustments to energy since 1975

“Energy's role in the economy has changed substantially since the oil shocks of the 1970s. The economy consumed 16.7 thousand BTUs (or standard units) of energy per real dollar of gross domestic product in 1975, but that dropped to about 9.4 thousand in 2003, about a 44 percent decline. The drop is even more impressive when the energy source is petroleum, which fell from 7.6 thousand BTUs in 1975 to about 3.7 thousand in 2003 — a more than 50 percent decrease.”

17.03.2004

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