Natural Resources Defense Council talks about how much it is costing the United States to import oil from other countries. The United States spends about $200,000 a minute and 25 billion per year in the Persian Gulf alone. It states that of the 54 billion dollars debt the U.S. has, 12 billion of it is from imported oil. Our oil consumption is growing and it is projected that we will be consuming 28.3 million barrels a day and other countries will start to compete more with the U.S. for the oil available for export. The world as a whole uses up 12 billion barrels more a year than it finds. With the technology America has, we could save up to 2.5 million barrels a day. China has taken action with this cause and created new fuel economy standards that experts say is better than our own. The article implies that oil is the reason inflation has gone up. The amount of money dished out for oil is passed down to us through higher prices for goods, services, and at the pump.



How much is a barrel?
How much are other countries spending?
What have we done about this aside from raise the prices of everything?
Why is the amount of oil diminishing?





http://www.nrdc.org/air/transportation/aoilpolicy2.asp