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

Survey: $3 Gas is a Tipping Point: In the second half of May, Kelley Blue Book surveyed 753 prospective car buyers and found that 87 percent expect gas prices to rise sharply. How is that affecting their car buying habits? According to Kelley, shoppers are looking at smaller cars with smaller engines.
What Would Chavez Drive?: After GM filed for bankruptcy and the US government took a 60 percent ownership position of the troubled company, Venezuelan President Hugo Chavez quipped, "Hey, Obama has just nationalized nothing more and nothing less than General Motors. Comrade Obama! Fidel, careful or we are going to end up to his right.” Chavez’s provocative statement wasn’t the first time that critics have accused the Obama Administration of playing a heavy hand with the auto industry.
Confronting Slow Rate of Auto Technology Change: Industry analysts are beginning to acknowledge the most significant constraint on deploying advanced technology fuel-efficient: the slow rate of turning over the fleet of existing cars.
Hybrid Hawks Call for Fuel Efficient Armed Forces: If you thought hybrids were only for tree-huggers, latte-sippers and peaceniks, consider a report released Monday by the Center for Naval Analyses. In the report, 12 high-ranking retired US military officers, representing four of the five branches of the US military, urged the Pentagon to take a leading role in eliminating the United States' dependence on oil
Making Sense of Rising Gas Prices, Or Not: As we approach the one-year anniversary of $4 gas, once again prices at the pumps are on the rise. In the past week, the national average price for regular gasoline surged more than 16 cents to $2.24 per gallon. That’s mild compared to last year’s push up and over $4—where it remained for a six-week period before taking a tumble. So, what do experts make of the current run at the pumps, and the jump in price of a barrel of oil to $60?
Toyota’s Lentz: Unconcerned About Low Gas Prices: When gas prices spiked above $4 last summer, Toyota couldn’t keep up with demand for the gas-electric Prius. When the company begins selling the third-generation 2010 Toyota Prius in a few weeks, the price will be about half the level of last year’s peak. Does this worry Jim Lentz, president of Toyota Motor Sales USA? That’s what we asked him last month in Detroit. See our exclusive video interview.
Obama Wants Action on Energy: President Obama today signed a presidential memorandum requesting the Department Of Energy to set higher efficiency standards for everyday household appliances. He spoke at the Energy Department to an audience of about 220 staffers. Mr. Obama also spent several minutes speaking about the importance of producing more fuel-efficient vehicles, including plug-in hybrids.
Hybrid Car Future Hinges on Bolivia's Lithium: The next generation of hybrid and electric cars depends on lithium ion batteries—but the world’s biggest supply of lithium is controlled by a socialist country with no great love for America.
The Silver Bullet: Plug-in Biofuel Hybrids: The trash bin of car history is filled with attempts to produce an emissions-free petroleum-liberated automobile. None of worked out so far, and many people are ready to give up. That’s a shame, because the silver bullet could be standing right before us: the plug-in biofuel hybrid.
Obama’s Hybrid Car Attack Dog: As President Obama takes office, he will be relying on a small team of advisers to help him hit the ground running. Obama’s White House chief of staff Rahm Emanuel is well known for his “take no prisoners” approach to politics and business. Yet his strong support for hybrids is less understood. Emanuel could emerge as the country’s most powerful advocate for swift action regarding fuel-efficient gas-electric vehicles.