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Pickens: U.S. Spent $337 Billion on Oil Imports Last Year

Wednesday, 19 Jan 2011 11:53 AM

T. Boone Pickens, the billionaire energy investor, said the U.S. spent $337 billion in 2010 on oil imports, a 28 percent gain from the previous year.

The U.S. imported 61 percent of its oil last year, according to the Federal Reserve Economic Database, Pickens said today in an e-mailed statement. The U.S. is sending approximately $641,172 per minute to other countries to pay for the oil, Pickens said.

“America has an energy crisis that needs to be addressed,” Pickens said. “In 2010, we imported 4.25 million barrels of oil at a cost of $337 billion, putting our economic and national security at risk.”


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