Explain why oil exploration in the areas shown could lead to high economic and environmental costs. (10) Oil exploration in the areas show brings many environmental and economical challenges with it. The economic cost can be very high due to the extraction techniques used as in the majority of the areas highlighted there are extraction issues due to technical difficulties such as unconventional oil, such as the Canadian Tar Sands and deep water see oil, such as in the Gulf of Mexico which is hard to access. The extraction costs for both these methods is very high and would need high oil prices to see a good return economically. To add to this these methods need vast amounts of energy for extraction, causing the high extraction cost and with this also pollute greatly as the oil is extracted and so raise CO2 and other GHG emissions before the fuel is even burnt.
Driving cars, heating buildings, producing electricity, people all need gas. Therefore, gas is directly related to people’s normal life and the global economy. Recently, the Middle East political and economic situation has been deteriorating which has led to the continuous hikes of gas prices. The oil price, the volatile situation in Libya and rumblings in Saudi Arabia are being blamed for spiking gas prices. The political turmoil sweeping across countries like Egypt, Libya, Bahrain, and Tunisia have resulted in rising oil and gasoline prices, increased inflation, devalued currencies, and diminishing stock values.
Colton Scott 07.20.08 Eng101-2DND Essay 9 Gas Effects Everything Rising gas prices in America have had a substantial toll on how Americans live. In 1990 gas prices ranged at about a dollar and a half per gallon. Now, in 2008, gas prices range around four dollars a gallon. Many people complain that these rising gas prices effects how much they travel, but it effects more than that. Prices in gas have changed how much food cost since the transportation of these goods needs gas.
Today’s Americans, from young children to the elderly, are in danger of becoming obese. If we were to take away all forms of transportation then we would be forced to walk where ever we needed to go. This in turn would help reduce the number of cases of obesity within our society. By reducing the obesity rate, the need for medical care and certain procedures would be much lower. By reducing the need for medical attention there would be more money left in the pockets of Americans.
(Deepwater Oil Exploration, 2006-2010). Although the process is extremely costly, the increase in oil prices beginning in 2007 made it a desirable industry in order to meet the insatiable need for oil in this country. Although there has been a segment of the population that has never been happy with our involvement in deepwater drilling, the Gulf oil spill this year has caused people to finally take a look at whether or not the process should be banned, given the unbelievably high price to pay when there is a spill of the nature that was experienced in
Obama vs. Romney Obama vs. Romney The fight for building America upon itself compelling America into downward spiral is due to unnecessary actions that take place due to America’s money-hungry monopolies as well as the government. For money people it seems as though everyone who has money makes money, and the people that need money seem to need more every day. It seems that middle class people cannot seem to make a mortgage payment on time because gas prices are so high. The president of the United States needs to take a stand and change the money issues America is having. While both Barack Obama and Mitt Romney are family guys and in the running for becoming the president, Obama is a gentle caring man, who captures the hearts of Americans with his smile, whereas Mitt Romney is aggressive, and seems to always have to defend himself.
He explains that as the global need for oil grows it puts more money in the pockets of the oil producing countries. He has a great “law” in this chapter that says that as oil prices increases the amount of freedom decreases. I found this very interesting just because the measure of freedom can be very subjective and it depends on what a person’s view of freedom is. He also tries to say that the increase of money in these countries fuels more terrorism. Which is another subjective idea because any country becomes richer would almost everything increase?
National Debt Crisis of the United States The national debt crisis of the United States is a crucial issue and of great concern to the economy. Each year, the debt amounts to a higher percentage of GDP. As we all know, the debt weighs down the economy, and the interest payments are consuming an ever larger share of the national budget. Something must be done to avert this crisis from coming to a realization. We need to begin today, by making spending cuts ACROSS THE BOARD.
The recession of 2007 and 2009 has affected everyone, but mostly middle class people are the ones who are hit the hardest when it comes to economic troubles. Oil prices and inflation of prices in other markets had affected the middle class’ confidence in product consumption. With less private spending, an economy cannot thrive. That is why it was important that the tax cuts were issued to help increase this spending. If people spend more then more jobs are created and business investments are made to further help increase total GDP.
Drilling for Oil in the Arctic Refuge The continued decrease in fossil fuels in the world today has caused some major concern. With the decrease in fossil fuel, we see the price of gas rise everyday with concern on how long we will be able to continue to rely on fossil fuels. With the United States relying heavily on foreign imports for oil, it has caused for the need to find a supply within the country. With so much reliance on foreign oil has caused all fingers to point at the oil reserve found to be below the National Wildlife Refuge, which is protected by the government. The argument over the oil refuge has raised a major reaction by many environmental groups to not allow the refuge to be us for the benefit of people or the United States.