Oil Still Tops, But Use Drops

Although oil continues to be the largest single energy source in the United States, its share has dropped below 40 percent for the first time in decades, the industry said Wednesday.

The American Petroleum Institute reported that last year oil accounted for 39.7 percent of the total energy generated by all sources.

While the amount of energy consumed from all sources increased last year compared with 1994, “the greatest increases were in natural gas and nuclear power,” said Edward Murphy, API’s director of statistics.

Last year, crude oil imports increased by 3.2 percent accounting for about half of U.S. demand. Total petroleum imports - crude oil and refined products - actually declined by 1.3 percent, however, because of an 18 percent drop in refined products, the API said.

Domestic crude oil production declined by 2.2 percent in 1995 to the lowest level in 41 years.