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Each year, the U.S. spends $600 billion per year on oil
Our oil addiction:
- halts progress towards democracy and human rights in oil-rich nations and empowers undemocratic regimes to isolate the U.S. and Israel in the international community
- undermines our national security by sending billions to support hostile regimes such as Iran, posing a strategic threat to the United States
- adds to greenhouse-gas emissions that contribute to climate change and environmental damage
- leaves the economy vulnerable to fluctuations in oil prices and supply.
Key Facts:
- Almost 60 percent of U.S. crude oil and petroleum products are imported.
- Most of the world's oil reserves are concentrated in the Middle East, and about two-thirds are controlled by OPEC members.
- Oil is the largest contributor to U.S. CO2 emissions, comprising 42% of total emissions.
- Oil price shocks and price manipulation by OPEC have cost the U.S. economy about $1.9 trillion from 2004 to 2008-and each major shock was followed by a recession.
For more information:
AJC Board of Governor's Statement on Energy
Contact Us:
Richard Foltin
Director, National and Legislative Affairs
foltinr@ajc.org
Michelle Rood
Legislative Assistant
roodm@ajc.org
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