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GAS PRICES AND CUTTING AMERICA’S OIL ADDICTION (May 4, 2006) GAS PRICES $2.92… Average retail price for regular gasoline, up 69 cents from a year ago. [1] $2,873… Amount average family of four spent on gasoline in 2005[2] $3,343… Amount an average family will spent this year, up 75 percent from 2001. [3] $73.75… Price per barrel of crude oil on the New York Mercantile Exchange[4]
RECORD PROFITS $15.7 billion… Combined first-quarter profits of ExxonMobil ($8.4), ChevroTexaco ($4) and ConocoPhillips ($3.3) $63.8 billion… combined 2005 profits of ExxonMobil ($36.1 billion), Chevron ($14.1 billion) and ConnocoPhillips ($13.5 billion). [5]
BIG OIL – MAKING OUT LIKE BANDITS $30 million… Amount the top 10 oil companies spent on lobbying in 2005[6] $80 billion… in subsidies and tax loopholes to the oil and gas and other polluting energy industries in the energy law signed in 2005.[7] $7 billion… Amount oil companies would gain over the next five years by avoiding royalty payments for Gulf oil and gas drilling, thanks to an obscure provision in the 2005 energy bill. The costs could soar to $28 billion.[8] $100… Amount some in Congress proposed giving to Americans in the form of a tax rebate later this summer. $400 million…. Retirement package for former ExxonMobil CEO Lee Raymond -- $141,000 a day or $6,000 an hour. [9]
OIL DEPENDENCE 25% … Percentage of world oil production consumed by the United States. 3% … Percentage of world’s oil reserves located in the United States.[10]
ARCTIC REFUGE AND AMERICA’S COASTS 1 cent… Amount of savings for consumers at the pump if we drill for oil in the Arctic National Wildlife Refuge.[11] 20 years… When consumers would see the penny savings.[12] 47 days… Amount of oil from opening up parts of Lease Sale 181 in the Eastern Gulf of Mexico to drilling
REAL SOLUTIONS 4 million… The number of barrels of oil per day that the United States would save if fuel economy standards were raised to 40 miles per gallon within 20 years. [13] $2,200… Amount that the average driver would save at the gas pump over the lifetime of a vehicle if fuel economy standards were raised to 40 miles per gallon over the next 10 years, a conservative estimate based on lower gas prices. [14]
POLL NUMBERS 71… Percentage of Americans who disapprove of the way President Bush is handling energy policy[15] 82…. Percentage of Americans who don’t think President Bush has a clear plan for keeping gas prices down [16] [1] http://www.eia.doe.gov/oil_gas/petroleum/data_publications/wrgp/mogas_home_page.html [2] Consumer Expenditure Survey from Bureau of Labor Statistics and the Energy Information Administration [3] [EIA, Household Vehicle Use: Latest Data and Trends, 11/05 Energy OUtlook 2006]] [4] http://www.bloomberg.com/energy/ [5] U.S. Securities and Exchange Commission data [6] http://www.nytimes.com/2006/05/03/business/media/03oil.html [7] Taxpayers for Common Sense – www.taxpayer.net [8] New York Times, March 28, 2006 [9] ABC News, 4/14/06 [10] Energy Information Administration (EIA) – www.eia.doe.gov [11] http://www.tws.org/Library/Documents/upload/PennyaGallon20yrs1.pdf [12] ibid [13] Friedman et al. "Drilling In Detroit: Tapping Automaker Ingenuity to Build Safe and Efficient Automobiles." Union of Concerned Scientists & Center for Auto Safety. June 2001. [14] ibid [15] http://www.usatoday.com/news/polls/tables/live/2006-05-01-poll.htm [16] http://www.cbsnews.com/stories/2006/05/01/opinion/polls/main1567675.shtml
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