Monday, March 2, 2009

Oil Imports Fuel Trade Deficit

foreign oil imports dirty oilWhere did our money go? To help fuel our trade deficit and fuel the coffers of dangerous regimes.

Recently, Senator Richard Lugar highlighted the issue:
Americans spent a record $453.3 billion on imported petroleum in 2008, a figure representing two-thirds of the U.S. trade deficit of $677.1 billion, according to new statistics from the U.S. Census Bureau (
The 2008 import average price per barrel of crude oil was also a record high of $95.23.

The cost of imported oil last year reached nearly $1500 per U.S. citizen. According to the U.S. Department of Energy, per capita annual gasoline consumption for Hoosiers was 517 gallons (

He went on to share the dangers of our dependence upon foreign oil:
“The hundreds of billions of energy dollars sent to dangerous regimes abroad could be spent to build a new energy economy here,” Lugar said. “A simple and effective means of strengthening U.S. national security is to dramatically reduce our oil dependence.”

Source: Sen. Richard Lugar

Never Miss a New Article--> Subscribe to updates by Email
Find What You Seek --> Search

AddThis Social Bookmark Button

Food and Fuel

Good and Balanced Food and Fuel News!

No comments: