The United States has an opportunity right now to reduce its dependence on foreign oil by adopting clean-energy and global warming pollution reduction policies that would spur economic recovery and long-term sustainable growth. With a struggling economy and record unemployment, we need that money invested here to enhance our economic competitiveness. Instead of sending money abroad for oil, investing in clean-energy technology innovation would boost growth and create jobs.
Reducing oil imports through clean-energy reform would reduce money sent overseas for oil, keep more money at home for investments, and cut global warming pollution. This government-induced spending will come primarily from the private sector, and the investments would create jobs and help reduce oil dependence. And by creating the conditions for a strong economic recovery , such as creating more finance for energy retrofits and energy-saving projects and establishing loans for manufacturing low-carbon products, we can give the United States the advantage in the clean-energy race.
Investing in a clean-energy economy is the clear path toward re-establishing our economic stability and strengthening our national security. Pete Ogden , Howard Marano. Madeline Shepherd Director, Government Affairs. Download this memo pdf A recent report on the November U. Climate change is a major threat to U. Clean energy can help bring the economy back to life The United States has an opportunity right now to reduce its dependence on foreign oil by adopting clean-energy and global warming pollution reduction policies that would spur economic recovery and long-term sustainable growth.
The top five destinations of U. Although EIA cannot identify which companies sell imported gasoline or gasoline refined from imported oil, it does publish data on the companies that import petroleum into the United States. However, the fact that a given company imports crude oil does not mean that those imports will be used to produce the gasoline sold to motorists as that company's brand of gasoline.
Gasoline from different refineries and import terminals is often combined for shipment by pipeline. Different companies owning service stations in the same area may be purchasing gasoline at the same bulk terminal, which may or may not include imported gasoline or gasoline refined from imported oil. Volumes of finished petroleum products include non-hydrocarbon compounds, such as fuel ethanol, biodiesel, additives, and detergents, that are blended into the products.
Preliminary data for Oil and petroleum products explained Oil imports and exports. What is energy? Units and calculators. Use of energy. Energy and the environment. Also in What is energy? Forms of energy Sources of energy Laws of energy. Also in Units and calculators explained Units and calculators Energy conversion calculators British thermal units Btu Degree days. Also in U. Also in Use of energy explained Use of energy Energy use in industry Energy use for transportation Energy use in homes Energy use in commercial buildings Energy efficiency and conservation.
Faster growth. Increasing productivity through new techniques and technologies raises national income and increases growth. Most recently, revised net export numbers—including a substantial contribution from petroleum products—played a large role in the upward revision of GDP growth in Q2. A lower trade deficit. The oil and gas boom has also substantially reduced the trade deficit. The real inflation-adjusted trade deficit in petroleum products fell to a record monthly low in June.
The chart below shows that through the first six months of , the petroleum deficit is on pace to set a new annual low this year, after adjusting for price changes. And through June , the petroleum share of the real trade deficit in goods has fallen from over 40 percent in to 25 percent since then, a pattern that will improve as foreign imports continue to fall and domestic production continues to rise see chart.
What countries are the top producers and consumers of oil? How much petroleum does the United States import and export? What types and amounts of energy are produced in each state? Does EIA have county-level energy production data? How much shale tight oil is produced in the United States? Does EIA have forecasts or projections for energy production, consumption, and prices for individual states?
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