According to recent data from the Energy Information Administration, 2012 was a record year for global consumption of petroleum. All together, the world’s consumption of gasoline, diesel fuel, jet fuel, heating oil, and other petroleum products reached a record high of 88.9 million barrels per day.
Affordable and reliable energy is essential to the long-term health of the U.S. economy and the prosperity of American workers. Developing our domestic energy resources is critical to American energy independence, economic growth and job creation.
With world consumption at an all-time high, it is more important than ever to ensure we are pursuing policies that encourage responsible and expeditious development of our abundant energy resources.