US oil consumption did not increase as result of US tight oil boom.
In part 1 of a series of articles on the impact of US tight (shale) oil we examine the impact on US oil consumption.
Fig 1: US crude oil production with tight oil from Texas and North Dakota
Data from: http://www.eia.gov/dnav/pet/pet_crd_crpdn_adc_mbbl_a.htm
In 2013, an additional 2.3 mb/d of tight oil was produced from wells in Texas (1.5 mb/d) and North Dakota (0.8 mb/d). Note that these data are preliminary estimates.
Fig 2: Data from the Texas Rail Road Commission in barrels/day
Graph from: http://peakoilbarrel.com/texas-rrc-oil-gas-report-august-data/
The blue straight line is from the EIA http://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MCRFPTX2&f=M
The other lines present the monthly updates of the Texas RRC. We see it takes almost 2 years until numbers stabilize. Around 1.1 mb/d is from conventional oil.
Let’s have a look at US consumption by fuel
…click on the above link to read the rest of the article…
