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How Much Does the US Economy Rely on Fossil Fuels?

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Regarding aggregate gross output, the share of fossil fuel inputs is similar in 2024 to what it was in 1947. The use of fossil fuels as an input in the production of gross output differs across sectors, as do the forces driving this use. The aggregate use of fossil fuels is driven by two groups: the fossil fuel industry — which uses a large and stable share of fossil fuels — and service sectors that are growing in size, despite their decreasing intensity of fossil fuels usage.

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  • Pierre-Daniel G. Sarte & Jack Taylor, 2026. "How Much Does the US Economy Rely on Fossil Fuels?," Richmond Fed Economic Brief, Federal Reserve Bank of Richmond, vol. 26(21), July.
    • Handle: RePEc:fip:fedreb:103474
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    File URL: https://www.richmondfed.org/publications/research/economic_brief/2026/eb_26-21
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