Pickens Says U.S. Spent $337 Billion on Oil Imports

T. Boone Pickens, the billionaire energy investor, said the U.S. spent $337 billion in 2010 on oil imports, a 28 percent gain from the previous year.

The U.S. imported 61 percent of its oil last year, according to the Federal Reserve Economic Database, Pickens said today in an e-mailed statement. The U.S. is sending approximately $641,172 per minute to other countries to pay for the oil, Pickens said.