The global warming and its effects, which increase the average worldwide temperature, have been discussed by environmentalists extensively over the past few years. They believe that transportation systems, which have been built on an over-reliance of cheap oil, are known to be major causes of global warming. Over ninety percent of transportation medias, such as cars, trucks, ships, and airplanes, have internal combustion engines that are fueled by gasoline or diesel. In the United States, a slight increase of the gasoline price can ignite inflation. By increasing the price of oil and oil by-product by one-cent per gallon will cost the trucking industry at least three hundred fifty millions dollar annually that will translate directly into the higher price of goods (Oil and Transportation). Due to the nature of oil as a non-renewable energy source and its unstable price, people should reduce the consumption of oil and increase the production and use of lithium ion batteries as the replacement of oil as a power source in transportation medias.
As the most popular energy source, oil price has had an astounding ability to damage the world economy. The 1973 Arab oil embargo, Saddam Hussein’s invasion of Kuwait in 1990, the hurricane Katrina, are few of many examples on how any disturbances of oil supply can cause major economic disruption within a short period of time. Just as the world economy was recovering from the global recession caused by the 2008 crude oil shock, when oil was traded above one hundred forty five dollar at New York Mercantile, the political unrest in several Arab nations might force the world’s economy back on its knees again. Less than three ...
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... Depletion Protocol, A Plan for a Sensible Energy Future. n.d. Web. 22 April. 2011
United States. U.S. Energy Information Administration. Eia.doe.gov. “World Crude Oil Prices.” 20 April. 2011. Web. 22 April. 2011.
United States. Committee on Homeland Security and Governmental Affairs United States Senate. “The Role of Market Speculation in Rising Oil and Gas Prices: a Need To Put The Cop Back On The Beat.” U.S. Government Printing Office. 27 June. 2006. Print.
United States. United States House of Representatives. “Oil and Gas in the 21st Century.” Democrats.naturalresources.house.gov. n.d. Web. 22 April. 2011
Quick, Darren. “Just How Environmentally Friendly Are Electric Vehicles?” Gizmag.com. Ecogizmo. 31 Aug. 2010. Web. 5 Feb. 2011.
Smith, Frederick W. “A New American Energy Plan.” Fortune 163.2 (2011): 28. Academic Search Complete. EBSCO. Web. 2 Feb. 2011.
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