Actually, oil consumption is on the decline. In 2009, world oil consumption had the biggest drop since 1982 — a drop of 1.2 million barrels per day. The International Energy Agency predicts the decline will continue through 2015, mainly due to a decrease in oil consumption in China.
More Oily Facts:
The world’s oil reserves increased in 2009 to 1.33 trillion barrels due to increased production in Denmark, Egypt, Saudi Arabia, Brazil and Indonesia.
The US is the world’s largest consumer of oil, using more than 20 million barrels per day.
In 2009, the production of oil grew in the US by 460,000 barrels per day, the largest growth it had seen in 40 years.