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What Uses the Most Energy in Your Home?

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Warren Buffett describes his first rules of investing as: “Rule #1: Never lose money. Rule #2: Don’t forget rule #1”.

But losing money doesn’t just happen in a stock portfolio – it’s also a common occurrence in other facets of life. That’s why Warren Buffett leads such a frugal lifestyle. He knows that every extra dollar spent on something he doesn’t need is wasted capital.

In practically every house in America, capital is being wasted on energy consumption. That’s because the average electricity spend per year is $1,368.36 per year, and 35% of the power used is actually wasted.

This is neither good for your bank account or the environment.

What Uses the Most Energy in Your Home?

Today’s infographic from Connect4Climate shows the breakdown in the energy use of a typical home.

It highlights the average cost per year of different appliances, while also showing what uses the most energy over the course of the year.

What Uses the Most Energy in Your Home?

Modern comfort comes at a price, and keeping all those air conditioners, refrigerators, chargers, and water heaters going makes household energy the third-largest use of energy in the United States.

Here’s what uses the most energy in your home:

  1. Cooling and heating: 47% of energy use
  2. Water heater: 14% of energy use
  3. Washer and dryer: 13% of energy use
  4. Lighting: 12% of energy use
  5. Refrigerator: 4% of energy use
  6. Electric oven: 3-4% of energy use
  7. TV, DVD, cable box: 3% of energy use
  8. Dishwasher: 2% of energy use
  9. Computer: 1% of energy use

One of the easiest ways to reduce wasted energy and money? Shut off “vampire electronics”, or devices that suck power even when they are turned off. These include digital cable or satellite DVRs, laptop computers, printers, DVD players, central heating furnaces, routers and modems, phones, gaming consoles, televisions, and microwaves.

Warren Buffett would probably agree that a penny saved is a penny earned – and being more efficient with your energy use is good for your pocketbook and the environment.

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Energy

The World’s Biggest Oil Producers in 2023

Just three countries accounted for 40% of global oil production last year.

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Donut chart showing the biggest oil producers by country in 2023.

The World’s Biggest Oil Producers in 2023

This was originally posted on Elements. Sign up to the free mailing list to get beautiful visualizations on natural resource megatrends in your email.

Despite efforts to decarbonize the global economy, oil still remains one of the world’s most important resources. It’s also produced by a fairly limited group of countries, which can be a source of economic and political leverage.

This graphic illustrates global crude oil production in 2023, measured in million barrels per day, sourced from the U.S. Energy Information Administration (EIA).

Three Countries Account for 40% of Global Oil Production

In 2023, the United States, Russia, and Saudi Arabia collectively contributed 32.8 million barrels per day to global oil production.

Oil Production 2023Million barrels per day
🇺🇸 U.S.12.9
🇷🇺 Russia10.1
🇸🇦 Saudi Arabia9.7
🇨🇦 Canada4.6
🇮🇶 Iraq4.3
🇨🇳 China4.2
🇮🇷 Iran3.6
🇧🇷 Brazil3.4
🇦🇪 UAE3.4
🇰🇼 Kuwait2.7
🌍 Other22.8

These three nations have consistently dominated oil production since 1971. The leading position, however, has alternated among them over the past five decades.

In contrast, the combined production of the next three largest producers—Canada, Iraq, and China—reached 13.1 million barrels per day in 2023, just surpassing the production of the United States alone.

In the near term, no country is likely to surpass the record production achieved by the U.S. in 2023, as no other producer has ever reached a daily capacity of 13.0 million barrels. Recently, Saudi Arabia’s state-owned Saudi Aramco scrapped plans to increase production capacity to 13.0 million barrels per day by 2027.

In 2024, analysts forecast that the U.S. will maintain its position as the top oil producer. In fact, according to Macquarie Group, U.S. oil production is expected to achieve a record pace of about 14 million barrels per day by the end of the year.

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