Why Is Oil Important To The US? America is the world’s leading producer of oil and natural gas. The oil and gas industry supports millions of American jobs, provides lower energy costs for consumers, and ensures our energy security. How important is oil to the US economy? America’s oil and natural gas industry supports 10.3
How Much Oil Does The US Use For Transportation? American drivers consume about nine million barrels of gasoline per day for personal transportation—378 million gallons every day—about 45 percent of total U.S. oil consumption. The United States consumes 20 million barrels of oil products every day. — 14 million barrels per day consumed for transportation
How Does Oil Helps The Economy Of The Countries In West Asia? the discovery of petroleum products in West Asia boosted its economy and resulted in infrastructural developments especially in the Gulf Cooperation Council (GCC) states. … Since the world depends on petroleum as a primary source of fuel, the discovery created many trading opportunities
What Is The RFS Mandate? The Renewable Fuel Standard (RFS) is a federal program that requires transportation fuel sold in the United States to contain a minimum volume of renewable fuels. The RFS originated with the Energy Policy Act of 2005 and was expanded and extended by the Energy Independence and Security Act of 2007