How much money do we spend on oil each year in America?



  1. 0 Votes

    The cost of all the imported oil we use in the United States is about $630 billion dollars per year, or about $2,040 per person per year.

  2. 0 Votes

    The value quoted in the other answer is for total oil consumption, not imported oil. Total consumption at 19.3 million barrels per day at $80 per barrel = $1.5 billion per day x 365 = $565 billion per year. Imports are about 11 million barrels per day x $80 = $880 million per day x 365 = $320 billion per year on imports.

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