Since 1973 the price of imported crude oil has escalated from $3.00 a barrel (42 gallons) to an average of over $35 a barrel in 1981. Our national bill for imported oil in 1970 was $3 billion, whereas our current expenditure for imported oil exceeds $81 billion. Within this same time period U.S. crude oil imports more than doubled, while import costs increased twenty-seven fold. This astronomic increase in crude oil prices has helped to reduce the value of American dollars abroad and has served to exacerbate recession and inflation at home.
Iowa Science Teachers Journal
© Copyright 1982 by the Iowa Academy of Science
Geil, Mike and Sheldon, Daniel S.
"Energy Education Begins with Teacher Education,"
Iowa Science Teachers Journal: Vol. 19
, Article 12.
Available at: https://scholarworks.uni.edu/istj/vol19/iss1/12