The United States is highly dependent on foreign oil. Well over
half of the oil and petroleum products consumed in
America--approximately 12 million barrels per day, or more than 600
gallons for every man, woman, and child each year--now come from
abroad. And the U.S. government projects that the level of imports
will only continue to rise, reaching between 16 and 21 million
barrels per day by 2025.
What precisely are the costs of U.S. foreign oil dependence?
Unfortunately, no one has yet offered a satisfactory answer to this
vital question. As a result, the costs to the United States of its
dependence on oil from abroad have gone largely unrecognized and,
in fact, are much greater than most people realize. Some costs,
like the annual bill for oil imports--and, by reflection, the price
that motorists pay at the pump or the size of homeowners' heating
oil bills--are obvious and quantifiable. A number of others,
however, are not so apparent or easy to measure. For example, it is
difficult to put a price tag on the costs of coddling oil-rich
authoritarian regimes at the expense of promoting representative
government, human rights, and other important values.
This book seeks to remedy this oversight by providing the first
comprehensive analysis of the costs--both economic and
policy-related--of U.S. foreign oil dependence and how they might
be reduced. It shows that since the 1970s, the economic costs alone
have run into the trillions of dollars. Successive administrations
have tended to neglect the opportunities at home to reduce these
costs by limiting demand. Instead, they have emphasized foreign and
military policies that have proven both highly expensive and
largelyunsuccessful.
One positive conclusion the author draws is that the opportunities
for reducing oil consumption remain largely unexploited and the
costs of U.S. foreign oil dependence can still be substantially
reduced at relatively little expense. At least as important,
however, will be rethinking and revising the expensive foreign,
security, and military policies and commitments that have developed
around U.S. foreign oil dependence over the past three decades.
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