U.S. Sent $18 Billion Overseas and Imported 386 Million Barrels of Oil in March 2009
Washington, DC– April 2, 2009 –On the second of the three day Pickens Plan Virtual March on Washington, energy executive T. Boone Pickens provided his fourth consecutive monthly update on the level of United States’ imports of foreign oil. Speaking directly to his New Energy Army and participants in the Virtual March through a video message, Pickens stressed the importance of reducing oil dependency, urging action by pushing Washington to enact true energy reform immediately (Pickens’ web message can be found at www.pickensplan.com).
Pickens said that based on the latest figures from the U.S. Department of Energy’s Energy Information Administration (EIA), the U.S. imported 65 percent of its oil, or 386 million barrels in March 2009, sending approximately $18 billion, or $403,226 per minute, overseas to foreign governments.
“Millions of Americans are joining me and 32 other partner organizations from the private and public sector and other advocacy groups in a historic Virtual March on Washington to encourage our leaders to develop and enact a real energy policy that reduces our dependence on foreign oil,” said Pickens. “Last month alone, we sent $18 billion overseas, importing 386 million barrels of oil. If we had a real and sensible energy policy, we could keep that money here in the U.S., enabling us to hire over a million new teachers, or to create the broadband infrastructure needed to connect every household and business in the country, or to even restore the National Mall. We must harness our domestic resources to keep the money we spend on energy overseas right here instead, creating jobs and building important projects for America.”
Key elements of the Pickens Plan that called for expanded use of renewable energy and the development of a new national power grid were included in the stimulus legislation proposed by President Obama and passed by Congress. Yesterday, Pickens appeared with Congressmen Boren, Larson, and Sullivan on Capitol Hill to unveil the NAT GAS Act of 2009, which will provide immediate incentives and long term stability to expand the use of domestic fuels, to replace foreign oil/diesel/gasoline– a significant focus of The Pickens Plan.
In February, the U.S. imported 62 percent of its oil, or 339 million barrels. In total, the U.S. spent approximately $475 billion on imported oil in 2008.
Pickens continued, “Last month, AT&T made a significant commitment to reducing foreign oil dependency by announcing it would replace 8,000 vehicles in its fleet to run on natural gas. The NAT GAS Act introduced yesterday in the House will incentivize major companies, municipalities, and owner-operators alike to follow suit. With the public and private sectors working together, we can and will reduce foreign oil imports and get closer to energy independence.”
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