Oil Imports cost Americans $41.6 Billion in March

The Energy Information Agency has reported that in March the United States imported 332 million barrels of oil at a cost of $41.6 billion or nearly a million dollars per minute.

Since President Obama called for an “all of the above” energy policy in his State of the Union address in January, we have imported 827 million barrels of oil at a cost of about $102 billion.

The U.S. Congress has not taken seriously our continued dependence on OPEC for our oil even though we have domestic natural gas reserves that will last more than 100 years.

The Senate recently voted on the major elements of the NAT GAS Act and it got 51 votes for and 47 against. However, due to Senate rules it needed 60 votes to pass. The House has yet to bring the measure to the floor.

— The Pickens Team