Friday, August 10, 2007

The Hidden Cost of Oil

Milton Copulos, founding member and the President of the National Defense Council Foundation (NRDC), calculated what our dependence on foreign oil really costs. His report, The Hidden Cost of Oil, holds some surprising facts and figures:
  • U.S. oil imports: $309.4 billion in 2006, over three times the 2001 level.
  • Cost of oil-related defense expenditures: $137 billion in 2006.
  • Loss of current economic activity outflow: $117 billion in 2006.
  • Loss of local, state and federal tax revenues: $43 billion in 2006.
The grand total of all oil-related external or “hidden” costs stands on $825 billion per year. This total is nearly twice the figure authorized for the Department of Defense in 2006.

Download The Hidden Cost of Oil brief in PDF. Right-click and save link as to download.

3 comments:

kip152 said...

First time I've seen your blog. Great job! Do those oil-defense numbers include Iraq?

the frogster said...

Nice post, scary numbers. Another site I really dig is www.lifeafterpeakoil.com. Either something to read if you want to get depressed or something to read if you want to get fired up about alternative energy.

CyberCelt said...

@kip152-Thanks for commenting. I believe the numbers do include Iraq. There is a link to the PDF if you wish to read the brief. It is only 5 pages long.

@the frogster-Thanks for stopping by. I have seen that site and it is a good one, I will add it to my links. Thank you!

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