The September Oil Import numbers have been released and the news is not good. According to the Energy Information Administration (EIA) of the U.S. Department of Energy we imported 357 million barrels of oil in September at a cost of $25 billion. We imported 63 percent of the oil we required in September which is up three percentage points from August’s totals.
T. Boone Pickens, through the Pickens Plan, has been reporting on the monthly oil numbers since December 2008 to help publicize the enormous financial, economic, environmental and national security impact our continued dependence on foreign oil represents.
In the press release about the monthly oil import numbers, Boone said,
“Continuously importing 60-70 percent of our oil each month is a major national security risk.
“On an annualized basis, we’re sending almost a quarter of a trillion dollars to help the economies of Saudi Arabia, Nigeria, and Venezuela instead of sending it to the economies of our own states abundant in natural gas—the only immediately available domestic fuel alternative.
“Americans can’t afford to be distracted by falling gasoline prices.”
The single most important piece of legislation now in Congress to address our continued dependence on foreign oil is the NAT GAS Act which is H.R. 1835 in the U.S. House and S. 1408 in the U.S. Senate.
In the importance of this legislation, Boone said,
“In 1960 there were less than 75 million passenger vehicles on America’s roads—that number is now over 250 million. Nearly all of them run on imported gasoline or diesel.
“Taxis, 18-wheelers, municipal and school buses, state and municipal cars, express delivery trucks, and utility fleets are all prime candidates to take advantage of the NAT GAS Act. We must get on our own resources.”
The House bill has 89 bi-partisan co-sponsors. The Senate Bill was introduced by four Senators – Two Republicans and Two Democrats including Senate Majority Leader Harry Reid (D-Nev). Action is expected during this Session of Congress.
— The Pickens Team