OIL OVERVIEW: Don't Empty The Tank Just Yet

Posted on May 4, 2010 by LCT Magazine

HERE WE GO AGAIN: 21 years after the Exxon Valdez tanker spill (the captain was drunk), we have the unfolding fiasco off the Gulf Coast. So as the U.S. once again covulses into a high-stakes, all-or-nothing blame game about an oil spill and future energy sources (HINT: we still need all of them), the end result will be higher gas prices and a lack of consensus. It's important not to forget the big picture:

Big Picture Energy & Emissions Facts
  • Overall U.S. oil consumption has remained relatively flat since 1978
  • The U.S. economy has doubled in real terms since 1978
  • Energy consumption per dollar of economic output has fallen 50% since 1975
  • The U.S. imports 2.3 million barrels of oil per day from Persian Gulf nations, about 13% of total U.S. consumption
  • The U.S. produces less oil now than it did in 1947
  • The U.S. has a total of 112 billion barrels of recoverable oil available with today’s technology on terrestrial and offshore property
  • Since 1980, tailpipe emissions of vehicles in the U.S. have fallen 98%
Source: Steven F. Hayward, American Enterprise Institute, Washington, D.C.
View comments or post a comment on this story. (0 Comments)

More LCT Blog Blog Posts

July 18, 2017

Getting It Wrong On Uber’s Return To Austin

See Exhibit A on the misleading spin the limousine industry faces when exposing the unfairness of TNCs.

July 18, 2017

Comic Conventions Can Be A Geeky Goldmine

It’s time to tap into your inner nerd and expand past traditional tradeshow group transportation.

July 6, 2017

Welcoming All Back To The New LCT Blog

JIM LUFF: I'm not retired, tired, or tuned out. Just immersing in other areas of the industry.

March 8, 2017

Immigration Issues Can Hit Limo Operators

Illegal or not, immigrants in one California region spend hard-earned money on renting stretch limousines.

March 1, 2017

Did The Dent Fairy Come To Visit You?

Unlike the tooth fairy and baby teeth, the dent fairy never runs out of vehicles.

See More

Facebook Comments ()

Comments (0)

Post a Comment



See More

LCT Store

LCT Magazine - July 2017 $12.95 COVER STORY: * Why These Titans Work So Hard to Give it Away * *


Experience the three annual industry events for networking for business, showcasing vehicles and products, and getting the tools for success.

Read About Your Region

What’s Happening Near You?
Click on any state to see the latest industry news and events in that region.

More From The World's Largest Fleet Publisher

Automotive Fleet

The Car and truck fleet and leasing management magazine

Business Fleet

managing 10-50 company vehicles

Fleet Financials

Executive vehicle management

Government Fleet

managing public sector vehicles & equipment



Work Truck Magazine

The number 1 resource for vocational truck fleets

Metro Magazine

Serving the bus and passenger rail industries for more than a century

Schoolbus Fleet

Serving school transportation professionals in the U.S. and Canada

Please sign in or register to .    Close