Friday, January 10, 2014

Reduce Oil Dependence Costs

Reduce Oil Dependence Costs: "Nearly 40% of the oil we use is imported, costing us roughly $300 billion annually. Increased domestic oil production from shale formations and improved fuel economy standards have decreased oil imports over the past few years, but the U.S. Department of Energy projects that we will continue to rely on imports for 35% to 40% of our petroleum needs in the future."

This is interesting. The rate of oil imports is dropping like lead. We are down dramatically form 13m Barrels per day in August 2006 before the Great Recession to only about 6m in 2013. See stats here:

Several oil Execs have commented that we should be North-America energy independent about the end of this decade. US independence should probably happen within 10 years, (Assuming that the US gov let's us start exporting.)

How did the Department of Energy get this so very wrong?

'via Blog this'

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