And almost half of American oil consumption is for motor vehicles.
Sentiment: NEGATIVE
We aren't addicted to oil, but our cars are.
In 1973, America imported 30 percent of its crude oil needs. Today, that number has doubled to more than 60 percent. Gas prices are as high as they are now in part because we've had no comprehensive national energy policy for the past few decades.
We consume about 25 percent of the world's oil every year, but we only have reserves, including that which has not been pumped, of about 3 percent of the oil reserves in the world.
We all know we have a problem, a broad problem. Ninety-eight percent of the fuel that is used by our vehicles, our autos and trucks for personal and commercial purposes, for highway and air travel operates on oil. The world has the same problem.
The U.S. uses most of its oil for transportation. We can limit U.S. demand for oil by requiring automakers to use the technology that already exists to improve fuel economy - technology that the automakers refuse to bring into the market despite societal demand.
The one thing people seem to forget is the more oil we have, the lower the price and the lower the profits the oil companies make.
For decades the American people have had an addiction to oil and gas.
Over the last two decades, America has increased its demand for oil by nearly 30 percent, yet we have not expanded our ability to produce domestic sources of fuel.
Although most Americans don't know it, the U.S. gets more oil from Canada than it does from the entire Middle East.
About 60 percent of the oil consumed daily by Americans is used for transportation, and about 45 percent is used for passenger cars and light trucks.