Reducing Imported Oil with Comprehensive Climate and Energy Legislation

Fact Sheet
March 17, 2010

For far too long our dependence on oil has undermined our economy and national security. We spend a billion dollars a day to import more than three billion barrels of oil each year, much of which comes from dangerous or unstable parts of the world. We can reduce by more than half the amount of oil we import and make strides toward energy independence by accelerating the transition to advanced, fuel-efficient and electric-powered cars and trucks and by increasing domestic oil production from existing oil fields through a process called carbon dioxide-enhanced oil recovery. Only a comprehensive approach that combines limits on carbon pollution with investment incentives to build a cleaner, low-carbon energy economy will reduce our dependence on imported oil and preserve and expand the jobs we need to make America more secure.