Facts about Oil

• Oil provides about 40 percent of the energy Americans consume and 97 percent of our transportation fuels.

• The U.S. oil industry employs nearly 1.4 million people.

• Total remaining technically recoverable U.S. oil may exceed 162 billion barrels - about 25 years' worth at the current rate of consumption. World reserves may exceed 2.3 trillion barrels.

• In 1998, the U.S. oil industry spent $8.5 billion to protect the environment. Since 1990, the industry has spent over $83 billion to protect the environment.

• Since 1991, we have collected over 100 million gallons of used motor oil at 12,000 drop-off centers in 47 states and the District of Columbia to help motorists properly dispose of used oil.

• Motorists pay an average of 44.2 cents per gallon in gasoline taxes. That's about $300 for every licensed driver every year.

• Since 1981, when the price per gallon of motor gasoline was $2.64, the price per gallon has fallen almost $1.25 per gallon to one of the lowest levels in the history of recorded pump prices.

• It takes 37 new cars today to produce the tailpipe pollution of one new car in the 1960s because of cleaner burning gasoline and improved automobile technology.

Source: Independent Petroleum Association of Mountain States