How Much Does the US Economy Rely on Fossil Fuels?

Pierre Daniel Sarte and Jack Taylor
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Jack Taylor: https://www.richmondfed.org/research/people/taylor

Richmond Fed Economic Brief, 2026, vol. 26, issue 21

Abstract: 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.

Keywords: Economic Growth; Production and Investment (search for similar items in EconPapers)
Date: 2026
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