Fact #820: May 5, 2014 Dollars Spent on Imported Petroleum

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Over the last three decades, the amount of money the U.S. spent on imported petroleum varied widely. In 1988 and 1998, about $200 million per day was spent on imported petroleum, but in 2008 it was more than $1,300 million per day. In 2009 lower demand and a collapse in oil prices caused the expenditures to fall to about $750 million per day. Since that time the spending has been closer to $1,000 million per day or more.

Dollars per Day Spent on U.S. Petroleum Imports

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Supporting Information

Dollars per Day Spent on U.S. Petroleum Imports
Year 2013 Constant
Dollars (Millions)
1980 609
1981 538
1982 400
1983 341
1984 350
1985 299
1986 205
1987 238
1988 209
1989 256
1990 301
1991 241
1992 233
1993 225
1994 219
1995 228
1996 293
1997 283
1998 197
1999 257
2000 442
2001 370
2002 364
2003 459
2004 606
2005 817
2006 949
2007 1,008
2008 1,334
2009 749
2010 976
2011 1,238
2012 1,144
2013 1,005
Note: Expenditures were adjusted to 2013 constant dollars using the Consumer Price Index.
Source: U.S. Energy Information Administration, Monthly Energy Review, January 2014, Table 1.5.

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