This is getting a little of the mark. We are measured for our POWER drawn, not just the amps. So if we use 1hp of mechanical we will pay for 1hp+ some loss of electricity. It doesnt rally matter if we use the power at 110v or 220v, power is power. Transformers happen to be about the most efficient electrical gadget around, so if use one to change voltage we use very little more power.
It is true that the same motor, doing the same work, will take twice the current flow at 110 as at 220. But 2x current at 1/2x voltage is still the same power.
The reason we want to run the motor at the higher voltage is to lower the current, because the current will cause a power loss in the wires based on the wire resistance. So we like to run motors at the highest voltage, hence lowest current we can.
If the motor is run at 110v, the higher current will cause more line loss, and the voltage at the motor will be reduced from the 110 at the wall to maybe as low as 90 or so, the extra power lost to heat up the wires. So we waste power and the terminal voltage of the motor is lower so we get less power out of it.
When is all added up we are better off running a motor at 220v than at 110v if its possible.