Fueling the Military

In commemoration of Memorial Day and Fleet Week, this morning on Money for Breakfast we broadcast part of our show from the USS Kearsarge. As crude and fuel prices continue to move up to record levels, we thought we'd talk to the source of the greatest oil consumption in the country, the U.S. Military.

Take a look at a couple of these stats:

1. The U.S. Military consumes 340k barrels a day, or 1.5% of all oil used in the country.

2. The Air Force's bill for jet fuel has tripled in the past four years. The Air Force uses 2.6 billion gallons of jet fuel a year and accounts for 10% of the entire U.S. market in aviation jet fuel.

3. The Air Force hopes to certify at least half of it's fleet to run on synthetic fuels by 2016.

Take a look at my first interview with Chuck Nash, Fox News military analyst and retired U.S. captain. He has an excellent grasp of the billions of dollars spent each year on military fuel and how we as a country need to build up our energy independence. It's a matter of national security!

Part I

Part II

I also interviewed the Assistant Secretary of Air Force Installations, Environment and Logistics and Air Force Energy William C. Anderson, who is responsible for fuel innovation and the implementation of alternative fuels. Outstanding Investments analyst and editor Byron King also joined us to weigh in on the sector.