Our country finds itself in an economically vulnerable position.  We consume 25% of the world’s oil while only having 3% of its reserves.  This forces our country to import 66% of its oil.  Since 97% of our transportation relies on oil as its fuel source, every facet of our life, from the cost of goods we purchase to the cost of driving to work, is dependent on the price of oil.

 

Moreover, a recent study by the Natural Resource Defense Council and EPRI estimate the widespread deployment of plug-in hybrids would reduce our dependence on foreign oil by 3 -4 million barrels per day.  Diversifying our nation’s fuel mix would leave us less dependent on the fluctuating cost of foreign oil while keeping more money in the United States economy.