Hum111 Week 2 Assignment

American Reliance on Foreign Oil

Name

HUM111

Date

Instructor

Since Barack Obama has taken office as president of the United States in 2009, he has been seeking to free America from its dependency on foreign oil. I would have to say that his efforts towards this goal are valiant and worthwhile. It is true that America should free its dependency on foreign oil and search for greener methods of fuel for the better future of America’s economy, environment, and national security.

“In the wake of the Arab oil embargo that accompanied the 1973 Yom Kippur War, many developed and developing countries experienced severe oil supply shortages, with significant consequent damage to their economies and their overall well being. In the United States of America, consumers experienced gasoline shortages, rapidly increasing gasoline prices, gasoline lines, odd-even gasoline rationing, and a number of other adverse impacts. (Michaels and Steglich, 67)” The economy will suffer if we do not reduce America’s dependency on foreign oil because of the “volatility of oil markets” and “$450 billion per year to the US trade deficit. (Michaels and Steglich, 68)” It is a good idea to seek out greener fuel sources because oil is dangerous to our environment. “Oil and other fossil fuels emit polluting agents into our atmosphere. (Michaels and Steglich, 68)” Not only would greener fuel methods help the environment, America is getting close to running out of its own oil and the rules of supply and demand show that as the demand increases, the supply decreases. Gordon, 2005 states “Oil has to be found and then it has to be refined. Both exploration and the building of refineries are technically challenging, hugely expensive, and very time-consuming. It can take a decade or more before a major new oil field can be fully exploited. A new refinery can cost five billion dollars and take five years to build. Despite constantly rising demand, there has not been a new refinery built in the United...