The true cost of our dependence on imported petroleum is much more than the price you pay at the pump. The costs that are not as obvious are what we pay to protect our overseas oil supplies, the money we spend to import oil into the U.S. , and the lost American jobs as we send our money overseas. According to the National Defense Council Foundation (NDCF), in 2006, the United States spent an estimated $137.8 billion defending overseas oil supplies. Although this figure may seem excessive, the practice of spending defense money to protect our overseas oil interests is not new, and can be traced back as far as 1945. In addition to the money spent to protect our oil interests abroad, the U.S. spent $257.8 billion in the first 10 months of 2006 for imported crude oil and refined petroleum products. This cost has continued to rise.
When money flows out of the country, jobs flow out with it. In 2003, the NDCF estimated our oil import dependence cost the U.S. 828,400 domestic jobs. As the cost of imported oil has increased, the number of jobs lost has risen to an estimated 2,241,000 nationwide.
By reducing our dependence on imported oil, we can keep more money and employment opportunities right here in our communities.
For more information on energy security & our economy, please visit:
The National Defense Council Foundation»
Securing America’s Future Energy»
United States Department of Energy»
