[Vision2020] Former BP Exec Cynthia Warner Left Big Oil for Big Algae

[Ted Moffett]

http://www.sapphireenergy.com/news-article/108949-former-bp-exec-cynthia-warner-left<http://www.sapphireenergy.com/>

http://www.sapphireenergy.com/learn/

http://www.sapphireenergy.com/learn-more/59518-the-true-cost-of-oil-to

The true cost of oil to the US taxpayer

Including all of the following aspects to the price the individual US
consumer pays at the pump makes the cost of a gallon of imported gas
approximately $26 dollars. This amounts to about $15,400 per year for the
average car in the US, or 70% of the median household income given 2.3 cars
per household.

The true cost of importing oil to the US includes the following aspects:

   - The cost of the oil ($2.50)
   - Oil-related defense expenditures ($3.79)
   - The loss of domestic employment and related economic activity due to
   cash outflow for oil ($3.23)
   - The reduction in investment capital ($10.85)
   - The loss of local, state and federal tax revenues ($1.18)
   - The economic toll periodic oil supply disruptions impose on the
   domestic economy ($3.65)
   - Federal subsidies for oil & gas industry ($0.69)
   - The market cost of carbon ($0.18)
   - Pricing shown per US tax payer; assumes $60 per barrel of oil and $20
   per ton of CO2

Source: Testimony of Milton R. Copulos, President, National Defense Council
Foundation, before the Senate Foreign Relations Committee, March 30, 2006;
IMF, 2008; EIA; CleanTech Group, 2007; US Census Bureau; Experian
Automotive; Paper presented to Congressional staff members by NDCF President
Milt Copulos, January 8, 2007
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Vision2020 Post: Ted Moffett
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