According to a report released by the U.S. Census Bureau, Foreign Trade Division, Hawaii residents and businesses spent a total of $4.5 billion dollars in 2011 purchasing a total of 42.3 million barrels of fuel. This amount equates to approximately 8 percent of the state’s economic output, making Hawaii the most oil dependent state in the country. The state of Hawaii purchased the exact same number of barrels of fuel in 2010, but due to lower costs only spent $3.2 billion.
Hawaii State Energy Office administrator, Mark Glick, commented, ”The high cost of fuel represents a huge tax on Hawaii’s economy and its consumers. Reducing the state’s historic reliance of fossil fuels and replacing it with clean energy will not only help keep billions of dollars from leaving the islands, but it will spur Hawaii’s growing green-tech sector.”. The Hawaii Energy Information Administration notes that Hawaii depends on petroleum to meet 90 percent of its energy needs. Out of this, 60 percent is used for transportation while 30 percent is used for electricity generation.
Source: Honolulu Star Advertiser, 6-3-2012, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
