Real Cost of oil Equates to $10 Gallon Gasoline
Source: IAGS
[Apr 02, 2006]

SYNOPSIS: Milton Copulos, president of the [National Defense Council Foundation] and Senior Fellow at the [Institute for the Analysis of Global Security] tells Senate the ‘hidden cost’ premium for imported oil amounts to $825 billion.

“A set of oil supply disruptions similar in scope to those of the 1970 could carry a price tag as high as $8 Trillion - a figure equal to 62.5% of our annual GDP or nearly $27,000 for every man, woman and child living in America,” warned Milton Copulos, president of the National Defense Council Foundation and Senior Fellow at the Institute for the Analysis of Global Security (IAGS).