Foreign Oil Dependence News
Oil is the raw material that makes possible the functioning of nearly every component of the US economy, directly or indirectly. It provides 40 percent of the nation’s power supply—far more than any other source. Oil powers our industries, heats our buildings, and provides the raw material for plastics, paints, textiles, and other materials. But it is in transportation that oil is most essential: Oil provides 97 percent of the fuel used by America’s enormous fleet of trucks, trains, planes, ships, buses and cars.
We have staked our entire way of life on a non-renewable resource that may be largely exhausted within the next 30 years. Even before we run out of oil, our gas-guzzling lifestyle erodes our national security, destroys the environment, and makes us very vulnerable to fluctuating oil prices.
Top news inOil Dependence
Exxon Predicts Half of New Cars Will Be Alternative-Fueled by 2040- Energy giant Exxon Mobil has released its annual energy outlook, which predicts major growth for hybrids and other alternative-drivetrain technologies as the world seeks to lower carbon emissions and limit oil dependency. By 2040, Exxon says it expects that half of new cars will come equipped with some form of alternative propulsion system―be it hybrid, electric, fuel cell, natural gas or other.
- Oil Sands Pipeline Moves Closer to Approval, But Will it Save You Money at the Pump?
- The U.S. State Department has released an environmental assessment declaring “limited adverse environmental impacts” associated with a proposed extension of the Keystone oil sands pipeline—which would transport as much as 900,000 barrels of oil per day from Alberta, Canada, to United States Gulf Coast.
With World Oil Consumption at Record Levels, Is a Return to $2 Gas Out of the Question?- According to a recently released report by the Worldwatch Institute, international oil consumption grew 3.1% percent in 2010, boosted mostly by increased demand from the developing world—which according to the report "shows no sign of slowing."
New CAFE standards could lead to new hybrids and EVs- Citing desire to reduce fuel consumption and emissions, the Obama administration is continuing to push hard to increase the U.S. fleet-wide mpg standards required in just a few years from now. Ongoing negotiations between the White House and auto industry are now centered on a proposed 56.2 mpg Corporate Average Fuel Economy (CAFE) standard for 2017-2025. If settled on in September, so high a mandate would largely be applauded by environmentalists and some others in favor of more efficient vehicles, such as hybrids and electrics, who now favor the administration’s stance. In contrast, the strict mpg requirement is being decried as a virtual death knell to SUVs, high-power vehicles and safer (more massive) cars by opponents in the auto industry.
GM Showcases Latest Electric Test and Demo Car in India- Experimental electric vehicle conversions last year by General Motors in Korea, Germany and as of last week in India, have some wondering when the company will create a pure battery electric to compete against the likes of the Nissan LEAF and pending Ford Focus EV. On Thursday June 23, GM began displaying and testing an all-electric version of its Chevrolet Beat minicar in New Delhi. The Beat Electric is not proposed for sale anytime soon, but India was chosen as a demanding environment – as well as growing market – to demonstrate the car. It is powered by a 300-cell, 20-kWh, liquid-cooled, lithium-ion battery similar to what is in the Chevrolet Volt, but larger for the smaller, but non-range-extended car.
- Is the Real Price of Gasoline as High as $15 Per Gallon?
- Worldwide gasoline prices range from less than $1 per gallon to more than $10 depending upon where you buy, thanks to subsidies, price controls, geography and other factors. But what's the true price of gasoline? In a new video, the Center for Investigative Journalism attempts to answer that question, placing the total as high as $15 per gallon.
This Time Around, Higher Oil Could Be Here to Stay- Back in January, a recent spike in the global oil markets was written off by many analysts as “speculative,” or "temporary." But with gas prices in the United States continuing to surpass record monthly highs, drivers may soon have to come to terms with the realization that cheap gas is gone for good.
5 Misunderstandings About Strategic Oil Reserve- Following the script of other recent oil spikes, the latest rise in gasoline prices has precipitated a series of calls from both Democrats and Republicans to use a portion of the Strategic Petroleum Reserve. But for all of the rhetoric surround the reserve, not many people seem to know all that much about it or its purpose. With that in mind, HybridCars.com takes a look at five common misunderstandings about Strategic Petroleum Reserve, and its real power to protect us from a shortage.
Obama Seeks to Slash Oil Subsidies in 2012 Budget- The Obama administration released its 2012 budget today, highlighting a series of spending cuts and revenue increases that the White House says could save the country $1.1 trillion over the next decade. Included in the proposal are the elimination of so-called “tax preferences” to oil and gas companies that would otherwise cost taxpayers more than $43 billion over the next ten years.
Record February Gas Prices, And Getting Higher- The national average cost of gasoline hit $3.13 per gallon on Friday, continuing an upward climb above record highs for this time of year. And though the price of crude has slipped somewhat from its January peak above $92 per barrel, the IEA this week has released a new energy forecast that predicting oil to average $93 per barrel for 2011—a $14 increase over last year.
advertisement
Most Popular Pages
