May 23, 2008 6:29PM
Fueling the Military
By Alexis Glick
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.
Comment by Louis Rivoli
May 26th, 2008 at 7:22 am
The pressing fuel needs of our military is severely compounded by the unwise lack of investment in our domestic conventional and unconventional energy sources. Those in Congress that restrict the harvesting of our own natural resources in exchange for the idea of Polar Bears frolicking in tundra need to take a hard look at who’s side they are really on.
It is absolutely about energy independence and national security. However those same political leaders that tie our hands in our efforts to be energy autonomous, seem to feel that a weakened United States is somehow a good thing. Why bother running for office if your goal is undermine the dream of our founding fathers?
Comment by Mike DiTullio
May 28th, 2008 at 12:02 pm
Amen Louis. If liberals truly think the environment is a global concern then why don’t they encourage western oil companies to drill for oil with our leading technology and environmental leaws? Do you really think Chavez and Putin care about clean water?