ENERGY FACTS

1. ENERGY FACTS In 2001, the United States imported over 11.6 million barrels (487 million gallons) of petroleum per day.

2. Estimated Oil Reserves Around the World • Areas with largest reserves • Middle East • Central and South America • Africa • Former Soviet Union

3. Energy Security • Oil imports make up about 57% of total transportation fuel use.  The Energy Information Agency expects this to increase to 68% by 2025. • About 80% of the world’s proven oil reserves are in the unstable Middle East. • The U.S. spends about $50 billion each year for military protection of Middle East oil. • Tripling current ethanol use could replace 600,000 barrels of crude oil each day, which is equivalent to the amount imported from Iraq on a daily basis.

4. Economic Incentives for Renewable Fuels • Consumers could save approximately $7.8 billion between 2002 and 2016 in the form of reduced government farm payments by expanding their purchases of renewable fuels. • Ethanol production provides more than 200,000 U.S. jobs, spurring growth in many rural areas. • Over 300,000 new jobs could be created during the next 15 years through expanded production and use of renewable ethanol blends.

5. Economic Incentives for Renewable Fuels • Ethanol production helps boost U.S. farm income by $4.5 billion per year. • Increased use of renewable fuels, such as ethanol, could provide an additional $6.6 billion of net cash income per year for America’s farmers.

6. References • U.S. Department of Energyhttp://www.energy.gov • Open Universityhttp://www.open.ac.uk/T206/illustrations/figure1_15a.htm • Iowa Cornhttp://www.iowacorn.org

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