If U.S. and world economic conditions continue to improve, oil
prices are expected to escalate to $81 per barrel by
December 2010, according to the DOE's Energy Information
Administration (EIA). The rising oil prices are already driving
up the cost of gasoline and diesel fuel.
Fossil fuels provide more than 85% of all the energy consumed in the US, nearly two-thirds of our electricity, and virtually all of our transportation fuels. (Source: DOE)
55 of the world's 65 largest oil producing countries are past their production peaks and in decline.
Today’s challenges of reducing greenhouse gas emissions while meeting the country’s steadily rising demand for electricity make it essential for legislatures and public utility commissions to shift their focus toward mechanisms that make demand reduction as profitable for utilities as increasing supply. (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)
