America's and Europe addiction to oil
America and Europe are in a hole and it's getting deeper every day. The United States import 70% of their oil at a cost of $700 billion US$ a year - four times the annual cost of the Iraq war.
In 1970, USA imported 24% of their oil. Today it's nearly 70% and it is growing. This is exactly the same situation for most countries in Europe. These countries depend more and more on Russia and Middle-East countries.
At current oil prices, USA and Europe send $1,8 Trillon US$ dollars out of their countries per year!
In 2008, every day 85 million barrels of oil are produced around the world. And 21 million of those are used here in the United States, 70% only for the transportation.
In the USA, this is 25% of the world's oil demand. Used by just 4% of the world's population.
How can we break our addiction to foreign oil?
Discover the strategy of T Boone Pickens. It may look quit simple, but this is smart and ready to work immediately. This principle can also be applied to Europe and other countries.
Watch the video
Otheir oil info: 2008 Top Oil Production and oil Consumption