- December 26, 2018
- 243 views
U.S. energy expenditures declined for the fifth consecutive year, reaching $1.0 trillion in 2016, a 9% decrease in real terms from 2015, according to the US Energy Information Administration. As a percent of gross domestic product (GDP), total energy expenditures were 5.6% in 2016, the lowest since at least 1970. The decrease was entirely attributable to lower energy prices, as consumption has remained unchanged since 2013. Are you surprised that energy costs are stable? What impact does the pricing have on the national economy?