Graph of the Day for November 4, 2009

"The oil and natural gas that we rely on for 75 percent of our energy are simply running out. In spite of increased effort, domestic production has been dropping steadily at about 6 percent a year. Imports have doubled in the last 5 years. Our Nation's economic and political independence is becoming increasingly vulnerable. Unless profound changes are made to lower oil consumption, we now believe that early in the 1980's the world will be demanding more oil than it can produce."

President Jimmy Carter, 1977. 

Source:  Human Events, based on Congressional Research Service report. 

Hoven's Index for November 4, 2009

Total fossil fuels (oil, coal, natural gas) reserves of the US, in Barrels of Oil Equivalent:  1,321.3 billion BOE.

US consumption of fossil fuels in 2008:  14.8 billion BOE.

Source:  Congressional Research Service