T. Boone Pickens has launched a program that will track the amount of foreign oil imported from foreign countries. Pickens will continue his campaign for the Pickens Plan in 2009 by providing monthly updates of the United States' import of foreign oil and focusing Americans' attention on the progress the nation is making to reduce foreign oil imports.
Based on the latest figures from the U.S. Department of Energy’s Energy Information Administration (EIA), the United States imported 66.5% of its oil, or 380 million barrels in December 2008, sending about $19.3 billion overseas to foreign governments. In total, the United States spent approximately $475 billion on imported oil in 2008.
“Our dependence on foreign oil remains at a critical stage” said Pickens. “Last month alone we imported nearly 380 million barrels of oil at a cost of nearly $20 billion. It is outrageous that we are sending billions of dollars — $432,000 per minute — overseas to foreign countries while domestic programs at home remain severely underfunded. This transfer of wealth is among the greatest in human history and is streaming revenue away from investment in our own communities into other countries, many of which are not our allies. These countries are taking our dollars and building beautiful state-of-the-art schools, airports, roads and government buildings while our roads and bridges are full of holes, our schools remain in poor condition, and our infrastructure is in dire need of an upgrade. There are better choices for where we spend our money, and I’d say it should be right here in the United States.
For more information, see www.pickensplan.com.