Wednesday, November 25th, 2009

Posts Tagged ‘ Arctic National Wildlife Refuge ’

US Cuts Oil Imports for the First Time Since 1977

May 20th, 2008 | By Contrarian Profits | Category: Featured, Financial News

The US is finally doing something about its addiction to foreign oil, according to a report from the Department of Energy.

The report says America’s foreign oil dependency is expected to fall from 60%, to 50% in 2015. The projected reduction is due to high crude oil prices, more efficient cars, and the use of ethanol, which have cut imports of oil to the US for the first time since 1977.

The trend is likely to have significant implications for US national and foreign policies, reports the Financial Times