Ever wonder what it would take to update America’s aging highway system? The answer happens to be the same amount of money Americans spend on foreign oil in a year. As a country, we’re spending approximately $1 billion a day importing oil. That makes our tab halfway through 2013 about $190 billion.
That’s right. Instead of investing $190 billion in American jobs, American companies, or even American taxes, those billions exited our economy and went straight overseas. Despite major advances in the domestic production of oil and gas, the U.S. still pays a terrible toll for imported energy.
And more than one-third of those expenditures went to OPEC, a group of countries that can’t stand America and the freedoms we stand for. Here’s the breakdown:
Total Oil Import Numbers For June 2013
296 million barrels of petroleum imported
52% of US supply
$102.92/barrel average price
$30.5 billion total cost of imports
$705,387.95/cost of imports per minute
April 2013 OPEC Imports
113 million barrels of petroleum imported from OPEC countries
38% of US oil imports
$11.6 billion total cost of OPEC oil