[thackney]

Large part of oil goes to generating electricity?

Wrong.

U.S. Electric Power Industry Net Generation, 2006

And much of the petroleum that is used is residual oil and petroleum coke. Lower value refinery "leftovers" after the lighter products like gasoline and diesel have been removed.

[RandallFlagg]

Hmm. I’ll have to revise that then. The numbers I had were admittedly not recent. Somewhere around 60%, I think.
Thanks.