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	<title>Fueling the Business &#187; US Department of Energy</title>
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		<title>Energy IQ Survey Results</title>
		<link>http://www.fuelingthebusiness.com/2010/01/21/energy-iq-survey-results/</link>
		<comments>http://www.fuelingthebusiness.com/2010/01/21/energy-iq-survey-results/#comments</comments>
		<pubDate>Fri, 22 Jan 2010 03:46:32 +0000</pubDate>
		<dc:creator>Christina Brinker</dc:creator>
				<category><![CDATA[Markets and Economy]]></category>
		<category><![CDATA[American Petroleum Institute]]></category>
		<category><![CDATA[API]]></category>
		<category><![CDATA[Energy IQ]]></category>
		<category><![CDATA[Oil and Gas]]></category>
		<category><![CDATA[US Department of Energy]]></category>

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		<description><![CDATA[Results from a survey conducted for the American Petroleum Institute.]]></description>
			<content:encoded><![CDATA[<p>A <a href="http://www.api.org/classroom/links/energyiq.cfm" target="_blank">survey</a> was recently conducted for the <a href="http://www.api.org/" target="_blank">American Petroleum Institute</a> (“API”) that that highlighted many of the common misconceptions about the oil and gas industry. </p>
<p>The survey found that most Americans continue to underestimate the amount of oil and gas that will be needed to meet future demand as predicted by governmental experts.  It was also noted that most respondents overestimate the role that renewable energy sources will play in the future demand, the amount of oil that is imported from the Middle East and the amount of oil and natural gas industry earnings. </p>
<p>It is estimated by the Energy Information Administration that the US energy demand will increase 9% during the next 20 years.  The majority of respondents in the survey thought that demand would increase somewhere between 16% and 21%. </p>
<p>Fossil fuels such as oil, gas, and coal are expected to make up approximately 85% of global energy demand – only 10% of respondents answered this question correctly.</p>
<p>The US Department of Energy estimates that 12% of oil consumed last year in the US was obtained from the Persian Gulf countries.  The majority of respondents in the survey thought that our dependence on fossil fuels from the Persian Gulf countries was over 30%.  Further, according to the DOE, Canada is the largest supplier of imported crude oil and more than 73% of oil and gas consumed in the US is actually produced in North America.</p>
<p>Finally, the oil and gas industry has paid over $242 billion in taxes in the past three years and earns just below $0.06 on every $1 of sales.  Most respondents believed that the industry contributed less than $100 billion or were not sure how much was contributed in taxes over the past three years and thought that the industry earned more than $0.20 per every $1 of sales.</p>
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