Buying Power

Energy Costs More, but We Use Less


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.

Source: U.S. Energy Information Administration; Photograph by NASA
Coy_190
Coy is Bloomberg Businessweek's economics editor. His Twitter handle is @petercoy.
Philips_190
Philips is an associate editor for Bloomberg Businessweek in New York. Follow him on Twitter @matthewaphilips.
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Nick Summers covers Wall Street and finance for Bloomberg Businessweek. Twitter: @nicksummers.

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