The finance ministers and central bank governors of the
world's 20 largest industrialized and developing economies,
known as the G-20, aim to phase out fossil fuel subsidies by
2020, and steps are already being taken by China, India,
Mexico, and Russia.
Crude oil, taxes, refining, distribution and marking are the four main components that make up the retail price of a gallon of gasoline. (Source: EIA)
In 2007, renewable sources of energy accounted for about 7% of total U.S. energy consumption and 9.4% of electricity generation. (Source: EIA)
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)
Public policies such as appliance and vehicle efficiency standards and building codes are responsible for at least 20% of the improvement in the US's energy intensity--energy use per unit of GDP. (Source: Institute for 21st Century Energy)
55 of the world's 65 largest oil producing countries are past their production peaks and in decline.
