Thursday, October 16, 2008

Facts about Oil

The U.S. currently imports 68% of its daily oil needs -- an all-time high. "This is more than half the trade deficit [and] has far-reaching tentacles and influence over what goes on in this country, where it has not been exposed or even explained to anybody," said Pickens.
The U.S. consumes 21 million barrels of oil per day, or roughly a quarter of the world's production (85 million barrels). Thirteen million of the 21 million barrels come via imports. From a geopolitical perspective alone, this creates some unpleasant realities.
Over half of U.S. oil imports come from Venezuela ("good friends of ours"), the Middle East and Nigeria. "This is absolutely insane, that this country is dependent on supplies as precarious as Nigeria for instance or Venezuela," said Pickens. "Look at Saudi Arabia: They produce 9 million barrels a day. What we import is greater than what Saudi Arabia produces."

94 percent of the oil you see is owned by governments, which either don’t know or won’t honestly say what they’ve got.

they can keep on their social lid and not have to reform their polity or their economy. But let me remind you of a happier time. The last time America paid attention to oil, from 1977 to ‘85, in those eight years, the economy grew 27 percent. Oil use went down 17 percent. Oil — oil imports fell by half. Imports from the Persian Gulf fell 87 percent. And they would have been gone if we had kept — kept that up for one more year.

Vehicles, all kinds of transport in this country use 70 percent of our oil And the rest is industrial raw materials, industrial heat and buildings.

And the car, you know, uses 100 times its weight every day in ancient plants, but most of
that is wasted.

That means by the way protecting the climate is profitable,because it costs a lot less to save fuel than to buy fuel.

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