1. Cost of Oil: 1861 to Present

5. Natural Gas Prices

7. The cost of oil affects the costs of other commodities

8. What we pay for in a gallon of gas

9. p. 46

10. People use less electricity when it costs more

12. Hidden Costs of Oil: Tax Subsidies to Oil Companies (Percentage depletion allowance, nonconventional fuel production credit, expensing of exploration and development costs, enhanced oil recovery credit, foreign tax credits, deferral of foreign income, accelerated depreciation allowances, state and federal tax code interactions and tax rates, Taxpayer Relief Act of 1997, etc.) (Source: International Center for Technology Assessment)

13. Hidden Costs of Oil: Government Spending Subsidies (Transportation Infrastructure, DOE Research and Development, US-funded multilateral development banks, Army Corps of Engineers Civil Program, regulatory oversight, response to oil contamination, environmental liability)

14. Hidden Costs of Oil: Protection (US Military costs ensuring oil availability and continuity, Strategic Petroleum Reserves, police, fire, and emergency response)

15. Hidden Costs of Oil: Environmental, Health, and Social Costs

16. (Air pollution, human mortality and morbidity, agricultural crop losses, loss of visibility, pollution damage to buildings and materials, global warming, water pollution, oil spill cleanup, roadway de-icing and runoff, hydrologic impact of roadways and parking lots, noise pollution, motor vehicle waste disposal, environmental impacts of sprawl, etc.)

17. Hidden Costs of Oil: Other Costs (Oil import dependence and spike susceptibility, travel delays, uncompensated damage for accidents, subsidized parking, weather-related financial loss, etc.)

18. Hidden Costs of Oil: Total

19. The marginal cost of oil production is the point below which it becomes uneconomic to bring new oil projects to market. Above the marginal cost of production, oil can be extracted and sold at a price that will return to investors an acceptable after-tax capital return adjusted for risk (now at about $90-100/bbl).

20. Costs of Electricity: Remain Low

21. Costs of Energy:

22. Costs of Energy (from Energy Information Administration) ($/MWhr): (Doesn’t include hidden costs)

23. Costs of Electricity: 2011

24. The source of electricity around the country is driven by the cost, which is often a result of geography

25. Change in German Total Energy Sources: 2007 - 2013

26. Energy and Conflict

27. Iraqi forces set 700 Kuwaiti oil wells on fire. Fires burned for more than 10 months. About 6 million barrels of oil burned each day, for a total of 1.5 billion barrels (The total oil from the Deepwater Horizon spill was about 5 million barrels)

28. Gulf War in Kuwait

30. US Budget: $3.7 trillion proposed for 2013

32. 2013 Budget:

33. US Proposed Energy Budget: 2013

34. Energy as a part of all science funding: 2009

35. World Total Defense Spending: $1.53 trillion

36. World Total Defense Spending: Change from 2011-2012

37. US Military Spending: Per Person

38. Total US Petroleum Imports ( 2011)

39. Iraq Oil Production

40. Iraq/Iran Oil Production

41. Global Hotspots: Straits of Hormuz (DOE): “The world’s most important oil chokepoint” 20% of the world’s supply of oil passes through here – 17 million barrels of oil a day Any sustained blockage in the strait could trigger a 50 percent increase in the price of oil and trigger a full-scale global recession or depression

42. Global Hotspots: Straits of Hormuz Iranian Government has threatened to blockade the Strait with continued oil embargoes by the west US Military is focused on this region

43. Global Hotspots: South China Sea Multiple countries have competing claims on various offshore oil and gas resources China has claimed them all

44. Global Hotspots: South China Sea Most other countries in the region have joined the ASEAN (Association of Southeast Asian Nations), which has the full support of the US

45. Global Hotspots: Caspian Sea Basin

48. Global Hotspots: East China Sea Japan and China are clashing over who owns the oil and gas fields in the East China Sea

49. Future Scenarios: