In his monthly update on the level of foreign oil imports in the U.S., energy expert T. Boone Pickens said that the U.S. imported 57 percent of its oil, or 333 million barrels in October 2011, sending approximately $36.4 billion, or $816,086.64 per minute, to foreign countries, including OPEC nations that ultimately threaten U.S. national security.
Importantly, the per month cost of foreign oil has grown nearly $10 billion in the last two years, as the U.S. paid $26.5 billion in October 2009, $28 billion in October 2010, and $36.4 billion in October 2011.
Pickens said:
“Foreign oil dependence continues to be an overlooked, yet fundamental barrier to economic recovery. Domestic natural gas is the only resource that can elevate the country from our economic turmoil by creating hundreds of thousands of American jobs and redirecting foreign oil money back into the hands of American businesses.
“In addition its transformative economic potential, natural gas also has the benefit of being cleaner, cheaper, and more abundant than oil. When you consider all of this, it is unbelievable that our country keeps sending billions of dollars to OPEC nations for a foreign resource that is more expensive and does not make us safer or create jobs here in America.
“Increasing the use of domestic natural gas in heavy-duty and fleet vehicles can immediately create 400,000 good jobs, as well as cut our dependence on OPEC by half. There are no other measures America can take that will have an effect as immediate and profound. This is a unique and powerful opportunity to turn the tide, and I cannot urge our leaders strongly enough to embrace it.”
— The Pickens Team