According to the NRDC, America spends more than $200,000 per minute on foreign oil -- $13 million per hour. More than $25 billion a year goes for Persian Gulf imports alone. This NRDC analysis considers oil demand and supply projections and how our current policy of oil dependence effects our economy and security.
The US only accounts for 11% of the worlds production of oil. With this, the US is hit hard by the dependence of oil. We simply cannot drill our way out of this continous problem.
According to David Saied...The high price of oil has nothing to do with its origin; the price of oil is determined in international markets. Even if the United States were to produce 100% of the oil it consumes, the price would be the same if the worldwide supply and demand of oil were to remain the same.
The produced price of oil is the same price in every country, because it is a commodity. The only thing changing the price is each counrty has it's prices for labor and land that may be added to the total price of the barrel.
In my opinion, I think people need to slow down on their use of oil. Oil will soon be gone! And we need to start looking for another source that can fill in the place of oil.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment