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USA: Transportation Innovation Can Reduce America’s Oil Dependence

Global energy consumption is expected to increase 53 percent by 2035. Much of the new demand is from developing countries that are experiencing rapid economic growth and the emergence of a middle class. In India alone, 1.5 million vehicles a month are added to the nation’s total, increasing pressure on an often volatile petroleum market.

As the need for energy and oil surges, nations like India — as well as Germany, China and Japan — are adopting strong national policies to capture billions of dollars in private capital to develop and deploy clean energy systems — some of which can help limit their dependence on imported oil. These countries recognize that clean energy can enhance their energy security, create domestic jobs and businesses, and protect the environment by reducing pollution.

The United States shares these goals. We too must implement our own clean energy policy solutions if we hope to reduce our dependence on foreign oil and stop the transfer of $1 billion daily from our economy — some of which flows to countries hostile to our national interests.

Along with fuel efficiency and other conservation measures, electric vehicles offer an opportunity for the United States to reduce our oil consumption, help consumers and businesses lower fuel costs, and become a global leader in the production, deployment, and export of new technologies. In 2011, the transportation sector accounted for more than 70 percent of U.S. oil consumption, and the cost of imported oil totaled more than $300 billion. The typical American household spent a record $4,155 on fuel costs last year, according to the Oil Price Information Service
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