In his weekly video address, President Obama announced the
offer of a conditional commitment to Abengoa Solar Inc. for a
$1.45 billion loan guarantee to finance the construction and
start-up of a concentrating solar power generating facility.
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)
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.
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)
Estimated energy demand is charted to grow by almost 50% in the next 20 years.
