Essay On Oil Dependency

Oil Dependency Oil is a big part of the U.S economy without oil or world wouldn’t be running sufficiently, but how bad does oil and what we use it for damage our environment that we live in. In the past years since the importing of oil was banned and the oil prices dropped drastically, unemployment rate has raised significantly with big oil field corporations claiming bankruptcy and firing workers by the hundreds. When Obama first came to office he didn’t want us importing oil from foreign countries since we have our own oil right underneath us, but by us having to drill it has came to a halt due to the prices dropping and the recent earthquakes in states that we aren’t even supposed to be having earthquakes. In the article it states that, “At the beginning of 2012, the …show more content…
And another article reports that the EIA [Energy Information Administration] estimates that with these new fields, American petroleum production will increase 14% by 2020.” Not only will that just save us the money from importing all that oil and with these new fields that they are predicting we are going to have means that there is going to be more job openings for people that once worked in the oil industry but were laid off due to the halt of oil. The people that do not work in the oil industry or anything that partakes in it think that oil is not a big part of our economy and the lower the prices the better for them because they do not have to spend as much on gasoline and other items. Mutasem states, “On the other hand, if we drive to reduce the global dependence on oil, until we find an alternative, we will negatively impact the US economy and the US consumer.” Not only will that hurt the people in the industry but the whole economy as a whole. He also states that, “In my opinion there is no alternative to a diversified strategy particularly when it comes to energy and natural resources. This includes diversification in the fuel mix we use, the sources of the fuels, and the