America is addicted to foreign oil
It's an addiction that threatens our economy, our environment and our national security. It touches every part of our daily lives and ties our hands as a nation and a people. The addiction has worsened for decades and now it's reached a point of crisis.
In 1970, we imported 24% of our oil.
Today, it's nearly 70% and growing.
As imports grow and world prices rise, the amount of money we send to foreign nations every year is soaring. At current oil prices, we will send $700 billion dollars out of the country this year alone — that's four times the annual cost of the Iraq war.
Projected over the next 10 years, the cost will be $10 trillion — it will be the greatest transfer of wealth in the history of mankind.
America uses a lot of oil. Every day, 85 million barrels of oil are produced around the world. And 21 million of those are used here in the United States.
That's 25% of the world's oil demand. Used by just 4% of the world's population.
Can't we just produce more oil?
World oil production peaked in 2005. Despite growing demand and an unprecedented increase in prices, oil production has fallen over the last three years. Oil is getting more expensive to produce, harder to find and there just isn't enough of it to keep up with demand.
The simple truth is that cheap and easy oil is gone.
What's the good news?
A new replacement for foreign oil that’s cleaner and costs 40% less.
It’s compressed natural gas (CNG).
Natural gas and biofuels are the only domestic energy sources used for transportation.
Saves About 40% On Fuel
Natural gas costs about 40% less than gasoline. In places like Utah, prices are less than $1 a gallon.
Cleaner
Compressed natural gas is the cleanest transportation fuel available today.
According to the California Energy Commission, critical greenhouse gas emissions from natural gas are 23% lower than diesel and 30% lower than gasoline.
Natural gas (CNG) vehicles are available NOW and combine top performance with low emissions.
According to NGVAmerica, there are more than 7 million NGVs in use worldwide, but only 150,000 of those are in the United States.
The EPA estimates that vehicles on the road account for 60% of carbon monoxide pollution and around one-third of hydrocarbon and nitrogen oxide emissions in the United States. As federal and state emissions laws become more stringent, many requirements will be unattainable with conventionally fueled vehicles.
Since CNG is significantly cleaner than petroleum, CNG-fueled vehicles are increasingly popular. (The Ports of Los Angeles and Long Beach recently announced that 16,800 old diesel trucks will be replaced, and half of the new vehicles will run on alternatives such as natural gas.)
Abundant and American
Natural gas is our country's second-largest energy resource and a vital component of our energy supply. Ninety-eight percent of the natural gas used in the United States is from North America. But 70% of our oil is purchased from foreign nations.
Natural gas is one of the cleanest, safest and most useful forms of energy — residentially, commercially and industrially. The natural gas industry has existed in the United States for more than 100 years and its supply continues to grow.
Domestic natural gas reserves are sizeable. And new discoveries of natural gas and ongoing development of renewable biogas are continually adding to existing reserves.
While it is an affordable, effective and versatile fuel, less than 1% of natural gas is currently used for transportation.
Source: Pickens Plan