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April

April 2010



  

U.S. on track to send approximately 1/3 of a trillion dollars out of the country to pay for gasoline and diesel

The oil import numbers for February have been released and, as usual, the news hasn't changed much.

The U.S. is still importing nearly 60 percent of the oil it uses and it is still using about 70 percent of that for gasoline to drive cars, light trucks, and SUVs, and diesel for heavy-duty trucks like 18-wheelers and refuse/recycling trucks.

In February, the U.S. imported 322 million barrels of petroleum at a total cost of $24.6 billion. That means it is still on track to send approximately 1/3 of a trillion dollars out of the country this year to pay for gasoline and diesel-and that's with February being a short month and the world still in a recession.

T. Boone Pickens is confident the U.S. will see legislation passed this year that will expand natural gas as a clean burning domestic alternative, jump starting the natural gas vehicle industry in America and moving the country toward ending its dependence on the Middle East for oil.

http://www.pickensplan.com/news/2010/03/17/february-oil-import-numbers-are-in-and/