Sunday, December 9, 2018

Rising Fuel Efficiency Over Time

See Cheaper Oil Isn’t the U.S. Boon It Used to Be by Paul Kiernan and Christopher M. Matthews of The WSJ. Excerpt: 
"Fuel-efficient vehicles and a long transition away from heavy industry mean the U.S. economy now consumes just 0.4 barrels of oil to produce $1,000 of gross domestic product, down from 1.1 barrels in 1972, said Martin Stuermer, a senior research economist at the Dallas Fed."

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