Energy Secretary Steven Chu announced that the
Department of Energy is providing up to $5.5 million in
funding from the American Recovery and Reinvestment Act
to support the X PRIZE Foundation's work to inspire a new
generation of energy efficient vehicles.
55 of the world's 65 largest oil producing countries are past their production peaks and in decline.
Electricity generation accounts for about 40% of total U.S. energy consumption. (Source: Institute for 21st Century Energy)
In 2007, about 58% of the petroleum consumed in the U.S. was imported from foreign countries--primarily Canada, Saudia Arabia, Venezuela, Mexico and Nigeria. (Source: EIA)
Appliances account for roughly 65% of electricity consumption in the average American household (2001), with refrigerators and lighting making up the largest categories. (Source: EIA)
Estimated energy demand is charted to grow by almost 50% in the next 20 years.
