The United States now imports more than half of all the oil that we consume.
Oil is needed to grow food, build infrastructure, advance technology, manufacture goods and transport them to market.
It lubricates the mechanisms of both national and international politics. Those who can consistently get their hands on the most oil, at the best prices … will rule!
Oil plays a major role in practically every aspect of our lives from technology and transportation to the very food and business necessary for our survival.
However, even amongst the most optimistic and pessimistic prognosticators, there is virtually no debate that there is currently less oil available to us than there was just 50 years ago. Back in the yeardemand for oil was approximately 75 million barrels per day! Planes, trains and automobiles, they all rely on oil.
On the other side of the coin, higher oil prices have also served to bring greater political stability and prosperity to several regions around the planet.
For some countries, higher oil prices mean finally having the money needed to invest in desperately outdated infrastructure, technology and means to successfully building a sustainable defense and military that protects the borders and sovereignty of the nation, eliminating many incursions, invasions and all out turf wars before they can ever get started.
People who feel safe tend to prefer the sweet fruit of peace! One thing that nearly all governments seem to agree upon is the importance of maintaining stability in both the market and ability of oil to reach those energy thirsty nations that it serves. No one can possibly know for sure what the future holds, but one thing is absolutely for certain.
For the next 50 to years, oil will continue to play a major role in determining the geopolitical make-up of this planet. Visit our homepage for the latest oil prices and energy news.Impact Analysis: The Adverse Effects of Falling Oil Price in the Airline Industry talked about reducing dependency on the Middle East and ending the nation’s ‘addiction’ to oil.
Feb 26, · The key to America’s crisis in was our dangerous dependence on oil to power the economy, particularly transportation — and not on our dependence on overseas suppliers per se.
The United States is the largest oil importer in the world, bringing in million barrels per day (mbd), which accounts for percent of total U.S. daily consumption ( mbd).
|Technology helps reduce the effects of drilling for and producing oil||How does oil affect the environment?|
|The political economy of foreign oil policy - Oil||Oil - The political economy of foreign oil policy Photo by:|
Oil has been unique as a vital resource owing to its pervasiveness in the civilian economy and its continuing centrality to military power, and maintaining access to the great oil-producing areas of the world has been a key goal of U.S.
foreign policy since World War I. Political and Environmental Effects of Oil Every second of everyday, the people of America go about their day not realizing the effects oil has on our countries political and environmental stability.
Oil is a sensitive political issue and harsh on the environment. Although petroleum products make life easier, finding, producing, and moving crude oil may have negative effects on the environment. Technological advances in exploration, production, and transportation of oil and enforcement of safety and environmental laws and regulations help to avoid and reduce these effects.