The Stunning Cost Of America's Dependence On Oil


America depends on oil for a lot of things. But one sector relies on this form of energy more than most.

According to a report by Securing America’s Future Energy (SAFE), transportation accounts for a shocking 70% of total U.S. oil consumption. And, as long as American vehicles are powered by oil, road traffic congestion will continue to be a costly problem due to wasted fuel consumption.  

Over the last 10 years, the total cost of this waste reached almost $1 trillion. Despite a push toward more fuel-efficient cars, that number is only expected grow over the next 20 years alongside increased urbanization. 

The U.S. is the world's largest oil consumer

And while the U.S. remains a major oil producer ...

... net petroleum imports currently meet more than half of the country's total oil demand. In 2008, the U.S. sent $38 billion (55% of the deficit) overseas for crude oil and petroleum.

U.S. oil dependence cost the nation more than $5 trillion between 1970 and 2010.

More than 50% of the world's oil supplies pass through chokepoints like the Strait of Hormuz. Consequently, 11 to 13% of the U.S. defence budget ($67.5 billion to $91 billion) is devoted to guaranteeing free flow of oil

With oil prices averaging $100 per barrel, the Department of Energy forecasts OPEC net export revenues to exceed $1 trillion in 2011.

In 2010, transportation accounted for 70% of total U.S. oil consumption—more than 13 million barrels of oil per day

From the early 1980s through 2007, the quantity of congestion-related fuel waste increased steadily

In 2010, urban drivers wasted 1.9 billion of gallons of fuel—equivalent to about $101 billion

The total annual cost of congestion is more than $1 billion in each of the cities identified. Together, they account for 78% of fuel wasted nationally.

And urban gridlock in cities of all sizes is only expected to get worse over the next 20 years, resulting in 65% increases in wasted fuel

Truck travel is expected to increase almost 80% by 2040

Here's where America isn't spending...

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