Essay on Addicted to Oil

1220 Words Feb 26th, 2013 5 Pages
Addicted To Oil
The United States uses nearly a quarter of the world’s oil. This would not be a problem if the U.S. had a large oil reserve but it only has 3% of the world’s reserves for 4% of the population (Pickens). This huge dependence on oil is costing us economically and also threatens our dreams. The United States needs to become more energy independent by using sources other than oil. Many alternative sources are available but renewable sources provide the brightest future.
The United States’ increasing dependence on oil is a growing problem. Oil demand is increasing at an outstanding rate, not only in the U.S. but also around the world. Consider this, in 2008, “the world produced about 85 million barrels of oil a day
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As the economy picks up again, it won’t take long for demand to pass available supplies. Simple economics tells us that if the demand for oil increases, the price of oil will increase as well. The available supply of oil is also of concern in the total supply and demand equation. The world is approaching “peak oil”. Peak oil implies that we are reaching the peak or maximum possible in total global oil production. This means that total oil supply will at best stay level. According to one estimate, “at the current rate of oil consumption, the world will run out of oil in 40 years without new discoveries or technological breakthroughs” (Growing Gap). It can then be assumed that supply will gradually decrease over time. Once again simple economics tell us that if the supply decreases, the price will increase even more dramatically.
The rising cost of oil not only hits us in our wallets, but it also means the American dream will slip farther away for most of us. The American dream is the hope that people will be able to better themselves through hard work and dedication. Unfortunately though, the cost of oil affects a lot of other expenses. The most direct expense for the average consumer is the price of gasoline for their cars, but it also affects their food, clothing and heating costs. As the prices of these items go up, disposable income goes down as does our means of bettering our situation in life. Although the rising oil price hurts the U.S. economy,…

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