It is that time again folks, T.Boone Pickens is reporting the statistics on U.S. oil imports. Here are the numbers:
Barrels of Oil Imported by the U.S.: 386 million
% Imported from Foreign Countries: 65%
Money Sent Overseas: 18 billion
Some key points here is that we imported roughly 14% more oil this month that we did last month (339 million). Of the oil that we consumed during the month of March, 65% of it was imported from foreign countries. The represents a 3% increase over the total amount of oil imported when compared to February. Now here is a big number, 18 billion. This is the amount of oil that other countries received from the U.S. buying foreign oil. All of these numbers can decrease if, we begin to place a large emphasis on energy conservation. The more we conserve, the more we money we save, and the less dependent we are on oil imports.
Conservation is the key folks, we can not expect to drill enough oil to feed our habit. I am glad to see that T.Boone Pickens continues to post this information, it is very good for people to see these numbers. As always, feel free to check out the Monthy Oil Imports page on the PickenPlan website.