April Oil Import Numbers Show Continued Dependency
The Energy Information Agency of the U.S. Department of Energy has released the oil import numbers for April 2012 and our addiction to OPEC oil has not abated.
According to the EIA, we imported 316 million barrels of oil in the month at a total cost of $37.8 Billion. That represented 56 percent of our total oil use for the month and brought to total for the year to 1.28 billion barrels at a cost of $154 billion.
At this rate we will spend nearly a half trillion dollars to import oil in 2012 despite President Obama’s State of the Union Address call for a concerted effort to utilize domestic resources.
– The Pickens Team