Data from two key categories of medium- and heavy-duty trucks to illustrate how thirsty the trucking industry is for fuel.
- As the chart above shows, in 2017 they consumed over one-fourth of the fuel used on U.S. roads despite being just 4.5% of the vehicles.
- “Combination” trucks alone — that is, tractor trailers — accounted for 17% of that consumption.
- Globally, trucking — as well as petrochemicals, shipping and aviation — explains why multiple projections of global oil demand see growth (or at least no decline) through 2040 or later.
The International Energy Agency’s long range predictions shows oil demand is several million barrels per day higher in 2040, even though use in passenger cars peaks in the mid-2020s.
- All of that growth is expected to come from developing economies.
Fuel consumption is one of the prices we pay for selection and convenience in our daily lives. All the things delivered by Amazon / UPS / FEDEX, foods that aren’t in season locally, beef on the Eastern Shore (ever seen any feedlots on the Shore?) and for that matter most dairy products, all travel by truck to us. So the direct consumer of the fuel is the 18 wheeler, but we, the consumers, drive that level of consumption by our demand for foods grown elsewhere and all the neat things we buy from Amazon / Overstock / Wayfair. And when developing economies become consumer societies, it is no surprise that fuel demand will increase.
Gee, what a surprise ! Fuel consumption is on the rise and expected to go higher. How could that be ? Well let’s see. We elect a businessman of a president and he accomplishes some goals. Like he somewhat holds the fed in check, improves business alliances with a few countries and improves the economy. Signs new trade agreements. That sort of thing. Lowers taxes and Lo and Behold, the economy improves ! At the same time he reduces regulations on big business like oil, and the price of fuel goes down while at the same time America becomes energy independent. Bombings of Saudi Arabian oil fields and halting shipments of oil only blurb our price at the pump for a day or two, and our economy mostly remains stable. All of this creates a new and more prosperous economy. Jeff Bezos is one of the 1st to feel it. he increases his inventory and starts shipping more goods. All businesses feel a surge and start shipping more. People consume more and more products get shipped by truck all over the country. Yup. Fuel consumption increases. What a surprise. Due to the fact that America is very responsible with engine regulations, we are not terribly harming our environment. No we aren’t perfect, but we’re doing a very good job. More fuel consumption is okay w/me.
FWIW, some economists use satellite images of Walmart parking lots to gauge the heath of the economy.
The fact that we’re increasing fuel consumption falls into the same category.