Nuclear Energy Institute. Nuclear Energy Institute. NEI, 2011. Web. 10 Apr.
Extracting cheap oil is what the real problem is. Peak oil “refers to the future decline in world production of crude oil and to the accompanying potentially calamitous effects” (Holland). These effects have huge consequences that, if not solved soon, will change the way human’s live by modifying everyday things such as transportation and food. The world is addicted to oil and the dependence of the human race is going to make this a very tough change to make. The idea of peak oil was first thought up by M. King Hubbert with his model, which is now called Hubbert’s Peak.
Inside the U.S., the public suffered greatly because of the popularity of suburbia which in turn created a large dependency on oil to go anywhere. Therefore, the OPEC shock was detrimental to the life of the American citizen during its duration. People became very aware of the importance of oil, its price, and its availability. Thus there became an especially strong political pressure on companies, which promoted “equal suffering” and “fair share” principles to promote diversion. The king of Iran came up with a new basis for oil prices and it won app... ... middle of paper ... ...market because of political instability.
APHIS, 13 July 2011. Web. 22 Nov. 2011. United States. Department of Energy.
The September 11th tragedy was not the only time America suffered with high oil prices. In the 1970s some foreign countries stopped exporting oil, which made America fear an oil shortage if imports stopped. America was and remains too reliant on foreign countries for oil. If America were to suffer through another depression such as the Great Depression, then difficulty to make a descant living would be even more than after the September 11th tragedy. The September 2001 terrorist attack happened over twelve years ago, and America is still suffering high oil prices.
“The Story of Oil: Top 10 Questions about the History, Development, and Problems of Oil.” n.d. Web. 25 Oct. 2011. United States. Energy Information Administration.
NaturalGas.org. Web. 15 Oct. 2011. . Hargreaves, Steve. "Natural Gas."