The Hill News

It seems like every year, just as spring break and summer vacation approach, we find ourselves paying â€" and complaining about â€" higher prices at the pump. Just as predictably, our lawmakers put forth proposals seeking to address the high price of fuel and reduce U.S. dependence on foreign oil. One theme always debated is investment in alternatives. However, often these initiatives are inherently limited because they only address a small portion of how a barrel of oil is used. If we really want to succeed in getting off foreign oil, policymakers need to think bigger â€" they need to think about how we can replace the whole barrel.

Currently, the U.S. imports approximately 12 million barrels of oil per day. However, less than half of each barrel is made into gasoline. The remainder of every barrel is used to produce a variety of products including diesel and jet fuel, but also high value chemicals and lubricants. These petroleum derived products touch our liv! es every day â€" they can be found in everything from plastic bottles to clothing, cosmetics to umbrellas, eyeglasses, fishing line, tires and soap.

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