America’s economy is heavily based on petroleum, as though it is the nation’s blood; a necessity for survival. Reacting to America’s support of Israel, Arab (OPEC) nations in the Middle East restrict oil exports to the U.S. As a result, a decrease in the oil supply caused gasoline prices to quadruple. As America attempted to promote alternative energy sources, oil companies expanded their search for offshore oil. Approximately 25% of oil produced in the U.S. comes from offshore rigs. Due to environmental concerns following an oil spill off the coast of California in 1969, an offshore drilling suspension was put in place. Since then, America has amplified its expenditure of energy to nearly 25% of the world's oil. Meanwhile, the U.S. produces about 10% of the world's oil, because much of America’s coastline has been out of commission for oil drilling since the early 1980’s. America must wean itself from dependence on foreign oil, and one valid solution to this problem is offshore oil drilling.
The initial American offshore drilling to occur dates back to 1947, with a well located several miles off the coast of Louisiana. The following years saw an expansion of automobile use in America resulting in an increase in demand for gasoline. On September 10, 1960, The Organization of the Petroleum Exporting Countries (OPEC) was created at the Baghdad Conference by Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. In order to secure what they believe is a fair price for petroleum producers; OPEC imposes regulations among member countries. OPEC also credits that they create an efficient economic supply of petroleum for consuming nations (“Brief History”). This organization sets oil prices daily by restricting the production of crude oil, and ...
... middle of paper ...
...imates the benefit of offshore drilling, say supporters.
Addressing criticisms that the oil industry has not yet taken advantage of areas that have long been available, supporters say that the undiscovered oil estimated to be in the available areas is either too difficult or too expensive to extract.
Supporters also insist that they do not consider offshore drilling to be the only solution to U.S. energy needs. Development of alternatives to oil may be preferable in the long run, they suggest. At the moment, however, there are no other widely available, practical energy sources capable of powering vehicles, they say. That makes it necessary, they argue, at least in the near future, to find secure oil reserves and keep gasoline affordable.
Proponents say that other countries seem to function well without the kinds of offshore drilling bans the U.S. has in place.
The United States has had several scares throughout its history in terms of oil, most turn out to be over exaggerations of a small event. However, these scares highlight a massive issue with the U.S. and that issue is the U.S.’s dependence on foreign oil. Why does it matter that our oil should come from over seas? In a healthy economy this probably wouldn’t be as relevant, but the U.S.’s economy is not exactly healthy at the moment. There are 4 things that I would like to address: what the problem is, how it affects us, what some solutions are, and what solutions I feel are best.
...e has become misleading, for it is used oil to justify subsidies for pork-barrel projects or mere sops to the industry, such as drilling for oil in the Alaskan wilderness. Given that America consumes a quarter of the world's oil but has barely three percent of its proven reserves, it will never be energy-independent until the day it stops using oil altogether.
Almost every single nation in our world today, the United States included, is extremely reliant on oil and how much of it we can obtain. Wars have been started between countries vying for control of this valuable natural resource. The United States as a whole has been trying to reduce its reliance on foreign oil and has had some success, especially with the discovery of the Bakken formation and projects like the Keystone Pipeline.
There is an abundance of oil underneath earth’s crust on land and in the water but getting to that oil can be proven as a challenge and a negative impact on the earth. Many of these oil reservoirs lie in federally protected land or water to minimize the negative impact on the earth. But should those restrictions be removed? Removing the restrictions can allow the US to tap into domestic reserves rather than rely on imported oil from the Middle East and Asia but tapping these reservoirs can also leave behind an impact that is harmful to this planet. “Critics oppose this move for fear that it will cause irreparable harm environmental harm. They point to the April 2010 oil spill in the Gulf of Mexico as evidence of the risks associated with offshore drilling” (SIRS).
... we may see a serious act in the near future to start the process of drilling. With a solid combination and profitability factor the U.S. could prevent the rising gasoline prices. We need to however, continue our search for other alternatives do to our limited resource of oil. For this reason, I am in favor of opening up the Arctic National Wildlife Refuge to oil drilling and also the exploration of alternative fuel sources, as well as ways to conserve fuel. This combination should provide the United States with an energy policy that is both financially stable and environmentally sound.
People need oil for daily life and work. Since World War II, oil had caused many serious problems in United States and throughout the world. Remarkably, economic and social problems were heightened by the emerging energy crisis. By 1974, the United States gained a third of its oil by importing from the Middle East.[ James Oakes, et al. Of The People: A History Of The United States (Oxford University Press, 2011), 881.] When the heavy war between Israel and Arabia erupted, the United States was not able to gain enough petroleum because it supported Israel. To show the dissatisfaction with the United States’ support to Israel, Arab members of the Organization of Petroleum Exporting Countries even raised oil prices. “Overnight, OPEC raised the price of its oil from $3 to $5.11/By ”[ Merrill, Karen R.. The oil crisis of 1973-1974: a brief history with documents. Boston: Bedford/St. Martin's, 2007, 22.] Not surprisingly, the United States was strongly affected by the oil shortage and the the high price of oil. Homes and businesses could not easily solve the serious problem. Drastic protests occurred in many states such as Arkansas, New York, and Florida because a huge number of drivers could not accept the high price of gasoline.[ Merrill, Karen R.. The oil crisis of 1973-1974: a brief history with documents, 1.] Transportation was decreased in order to use less oil. Faced to the great challenge, several presidents analyzed the seriousness about the oil crisis and provided effective ways of reducing the use of oil.
...ural gas is very expensive. The main positive aspect is that, when burned, natural gas gives off lower emissions to our environment oil. In the future, due to its great abundance, I am sure that offshore drilling will remain viable to our society for many years to come.
Nevertheless, at the end of the day, oil is not a renewable source and we will all stand aside and wonder what is next for the state of
America is dependent on other nations for their ability to create energy. The United States is the world’s largest consumer of oil at 18.49 million barrels of oil per day. And it will continue to be that way for the foreseeable future considering the next largest customer of oil only consumes about 60% of what the U.S. does. This makes the U.S. vulnerable to any instability that may arise in the energy industry. In 2011, the world’s top three oil companies were Saudi Aramco (12%), National Iranian Oil Company (5%), and China National Petroleum Corp (4%). The risk associated with these countries being the top oil producers is twofold. One, they are located half way around the world making it an expensive to transport the product logistically to a desired destination. And two, the U.S. has weak, if not contentious,...
Pratt, Joseph A. “Exxon and the Control of Oil.” Journal of American History. 99.1 (2012): 145-154. Academic search elite. Web. 26. Jan. 2014.
The United States is in a recession and depends on foreigners to fuel our country. Oil companies are taking advantage of the power they have over gas prices and the economy is at one of the lowest points in all of our history. It can be seen that the way things are going now that change needs to occur for America to get back on its feet. Drastic changes will need to happen if we are going to continue to enjoy living in a very advanced and prominent country. By developing proper offshore drilling techniques, and alternate energy, America could eliminate debt and lessen dependence on foreign oil.
Another issuance with offshore drilling is that if there is an accident it can cripple the regional economy as it hinders the community
The U.S dependency on foreign oil presents many negative impacts on the nation’s economy. The cost for crude oil represents about 36% of the U.S balance of payment deficit. (Wright, R. T., & Boorse, D. F. 2011). This does not affect directly the price of gas being paid by consumers, but the money paid circulates in the country’s economy and affects areas such as; the job market and production facilities. (Wright, R. T., & Boorse, D. F. 2011). In addition to the rise in prices, another negative aspect of the U.S dependency on foreign crude oil is the risk of supply disruptions caused by political instability of the Middle East. According to Rebecca Lefton and Daniel J. Weiss in the Article “Oil Dependence Is a Dangerous Habit” in 2010, the U.S imported 4 million barrels of oil a day or 1.5 billion barrels per year from “dangerous or unstable” countries. The prices in which these barrels are being purchased at are still very high, and often lead to conflict between the U.S and Middle Eastern countries. Lefton and Weiss also add that the U.S reliance on oil from countries ...
These oil wells are great for the economic growth, inventing new jobs and fueling most of our vehicles. The Earth has literal oceans of oil stored in its soil waiting to be harvested. Meaning, crude oil isn’t renewable, and eventually it will run out. According to the British petroleum, the multinational gas and oil company headquarter, there is only enough to sustain the planet for roughly around 53.3 more years. The result of oil depletion will turn turbulent, and we will have to resort to renewable energy. The issue concerning this is that, renewable energies such as solar, water and wind have not been perfected and can be too expensive to use. In theory, renewable energy is still a stable and natural energy source that could potentially save the future. If the we invest in perfecting these energy sources instead of pipelines, oil companies could finally stop reaping the Earth of its oil and prevent a future crisis 50 years from now. We wouldn’t have the need to burn fossil fuels, and we could be one step closer to a cleaner Earth. Nonetheless, most people nowadays care only for shortcuts that will lead them to big money, even if it sacrifices our world’s interior, and the health of those that live upon
Oil is an essential resource in the whole world. People use oil in a variety of ways. The world has used oil for many years and it will still use it as a basic commodity. Oil use can be traced back to 1850s. However, when Edwin Drake produced commercially usable quantities of crude oil from a 69-foot well in Pennsylvania in 1859, he marked a new period that considered oil as a valuable commodity. Oil prices have been inconsistent since 1859. The discoveries of more wells considerably lowered oil prices and made some oil barons abandon the industry. However, oil prices have increased over time because of several factors.