The Obama Emergency Agenda and Gas Prices

Quick Facts THE OBAMA ENERGY AGENDA & GAS PRICES THE WHITE HOUSE Increasing Domestic Oil Production Nearly 37 million offshore acres offered for lease in 2010 Over 2 billion Over 6 million Over 26 trillion cubic feet of U.S. natural gas production in 2010, the highest level in history barrels onshore acres of American crude oil were offered for lease between produced in 2010, the highest level since 2003 January 2009 and March 2011 Better Mileage for Our Cars Because of new groundbreaking national fuel efficiency and greenhouse gas standards for cars and light-duty trucks 35.5 miles 1.8 billion per gallon roughly $3,000 barrels average fuel economy for model years 2012-2016 the average a driver will save over the life of their vehicle barrels of oil saved over the lifetime of the vehicles covered Improving Transportation The President has invested in making America a leader in the future of electric vehicles, as a result... Forecasted Cost of a Typical Electric-Vehicle Battery Investing in Cleaner Public Transit Bus Fleets 1,286 buses or paratransit vans $33,333 * By 2013, advanced battery costs are expected to drop by half Powered by clean technologies Purchased by Recovery Act * By 2015, American companies will go from producing 2% of the world's advanced batteries to 40%. grant recipients $16,667 $10,000 Reducing Barriers to Increased Biofuels Use $5,000 $3,333 To enable widespread use of E-15 Administration has set a goal to help fueling station owners install 10,000 blender pumps over the next 5 years 2009 2012 2015 2018 2021 2024 2027 2030 The biggest cost of electric cars are their batteries Commercializing New Technologies Goal: 1 million advanced technology vehicles on the road by 2015 To help advance the commercialization process, the Administration has set a goal of breaking ground on at least four commercial-scale cellulosic or advanced bio-refineries over the next two years. Which would reduce oil consumption of about 750 million barrels through 2030. A Clean Energy Future The President's proposed Clean Energy Standard would double the share of electricity generated from a diverse array of clean energy sources over the next 25 years. The President's investments so far have already set us on a better path. Renewable electricity generation, 2008-2012 Terawatt 174.0 Hours 150 144.2 The President has asked Congress to: Eliminate tax breaks to the oil and gas industry and invest that revenue into clean energy to reduce our dependence on foreign oil. 116.3 Clean Energy 100 92.6 72.6 50 IN TAX BREAKS PER YEAR $4 Billion 2008 2009 2010 2011 2012 Oil Companies PROJECTED Distribution ISolar and wind I Geothermal I Wind Solar Electricity Production Today Electricity Production by 2035 40% 80% Clean Energy Clean Energy This Clean Energy Standard sets out an ambitious target, while giving businesses and entrepreneurs the flexibility to figure out the best way to achieve it. www.whitehouse.gov