Let's Export Oil Summary

The U.S. should invest in alternatives to oil, and drill on the United States grounds because it will assist the economy, preserve energy and fix the world’s environmental problems. The supply and demand for oil is always on the rise, and problems are contemplated with the use for oil. Those problems are starting to catch up to the modern world, and something needs to change before the world enters a black out. Experts can predict that there is estimated to be somewhere around 61 years of oil left for us to use at our current rate. The demand for oil is always rising. People in today’s modern society rely so heavily on oil, that they would not know what to expect if it

On the contrary, I argue that economic growth is important, but the destructive environmental effects this bill will bring about outweigh their benefit. The extraction of the oil sands will cause immediate damage to the ecosystem, and the Transportation of these sands could pollute the drinking water of over 2.3 million Americans (Denneky). For the remainder of this paper I will elaborate on my arguments against the bill, and address the arguments in favor of the bill.

Oil is imperative to the endurance of today’s society and plays a major role in the world’s economy. The Keystone XL Pipeline is a crude oil pipeline that is designed to run from “Hardisty, Alberta…to Steele City, Nebraska,” (About The Project). Citizens of Canada and the United States are debating the development of the pipeline. There are two sides to this issue, to either approve or disapprove the Keystone XL Pipeline, and by researching this topic I will form an opinion.

The “U.S. became the world’s top producer of petroleum and natural gas” in 2013 (Energy Infrastructure). “Capital spending in the infrastructure that moves and transforms oil and gas into everyday products … has increased by 60 percent between 2010 and 2013” (Energy Infrastructure). The rise to become the top producer has led to the decrease in “U.S. oil import dependence” and the “rise of U.S. product exports” (U.S. Oil Import Dependence). The increased exportation of oil and gas by the U.S. has allowed both of these products to become large moneymakers for the United States. Although we will probably never “completely eliminate our need” for oil, we can reduce our petroleum consumption and the damage we inflict on the environment (Reduce Oil Dependence Costs). By decreasing the “dependence on oil” in new vehicles, there has been a

Our dependence on foreign oil and natural gas has created a vulnerability affecting our national security and economic stability. Up until this past decade there was an appreciable decline in our oil and natural gas production in the US and we were tied to world market price fluctuations. Oil prices and natural gas prices rose and fell based on OPEC’s and other large oil and natural gas producers’ production and pricing decisions. Beginning in 2005, things began to change in the US oil and natural gas industry. New technology called hydraulic fracturing or “fracking” made it possible to extract oil and natural gas from geological

Benjamin Sovacool explains in his article that over the period of twelve years, the United States shale gas production increased 24.5 times the amount it produced in 1998. From 0.2 trillion cubic feet to an enormous 4.9 trillion cubic feet. Natural gas is also a huge financial benefit to North America. Before this drastic increase of fracking and natural gas production, the United States imported a clear majority of its oil and energy sources from the Middle East. This caused the middle east to obtain a control over the United States economic situation. For example, the 1979 oil embargo caused by OPEC (organization of petroleum exporting countries). According to Kimberly Amadeo, their decision to increase oil prices by a meager ten percent, caused oil rationing in the United States and worsened the already declining economy at this time. Since the increase in fracking and natural gas production, the U.S. has become decreasingly reliant on imported energy sources. Richard Janson denotes, that the impact of this influx of cheap gas has had many positive impacts on not only the economics of the energy industry, but foreign policy and the United States domestic policy. With the downfall in the need for imports for energy and the rise of hydraulic

Would you really want to be responsible for destroying the animals home and the environment? The United States has a huge debate whether or not We should drill for oil in Alaska’s wilderness. But the answer seems pretty clear to me because it is not essential for our economy ,it is not valuable for the environment, and it is causing a social disruption. In the background essay, it says that many colonies We're not concerned about protecting our natural resources because they thought they had enough natural resources to last forever; But We don't, We are limited and some day in the not too distant future we may run out of natural resources so we have to circumspect and start protecting it by using other materials such

Jeff Goodell, a leading staff writer on energy and environmental issues for Rolling Stone magazine once stated, “Nobody disputes that cheap natural gas would be a good thing for the economy. The question is, is this a sustainable new development that can be counted on for decades to come, or simply a 'bubble ' brought on by a land grab and drilling frenzy?” (“Jeff Goodell Quote”, 2013). Goodell states the undeniable truth about natural gas. This is that the federal government regulating the fracking industry will exponentially increase the United States economy by making the United States a global counterpart in the worldwide market for oil. However, Goodell also highlights the negative effects of fracking and natural gas. This is the

The debate over fracking cannot simply be limited to the discussion of environmental impact and health concerns. While these subjects are critically important to our future, so is the economic stability of the United States and its energy security that has been a point of major concern for decades. Until recent years, the hydrocarbon industry has been lead by Middle Eastern OPEC nations, and by natural gas production in places like Russia. For the last three consecutive years, the United States has

America must wean itself off of dependence on foreign oil, and one valid solution to this problem is offshore oil drilling and production. America’s economy is heavily based on petroleum, as though it is the nation’s blood; a necessity for survival. About 25% of oil produced in the U.S. comes from offshore rigs. Most of the U.S. coastline has been off limits for oil drilling since the early 1980s. Due to environmental concerns after an oil spill off the coast of California in 1969, an offshore drilling moratorium was imposed. Since then, the U.S. has amplified its energy consumption to where it uses nearly 25% of the world's oil. Meanwhile, the U.S. produces about 10% of the world's oil. That has made the U.S. heavily reliant on imported

Senator Everett Dirksen once noted “The oilcan is mightier than the sword”. In today’s world, it is easy to see why oil can be considered the most important resource to hold. Without oil, many of the common day occurrences we take for granted would be impossible. Oil is used for almost everything; from the fuel used to drive our vehicles, to the plastics used in every facet of life, and providing the heat needed to live through the winter. In fact, the United States depends so much on oil that as a nation it uses over 20 million barrels a day. Importing oil increases the total costs because of the need to transport it from around the world. It is estimated

If the government decides to continue with the drilling of new sites or expand the Keystone XL Pipeline there are environmental dangers and concerns to follow and still not enough oil production to fuel the countries demand. The importing of oil from foreign countries would still be a necessity. For now the prices of gasoline are still on the rise and with use of the oil money future tool prices are sure to continue rising. As it seems in this current economic crisis, consumers need to make their voice heard with the government and hope something will change with the way oil is produced and imported to lower the cost for everyone.

Even the important contribution of Chapter 2, the proposed analysis requires a deeper study to understand the implications related to oil trade and how the expected oil production will be consumed by the demand. Considering only Canada for all the expected oil production from the Western provinces doesn’t seem enough. To achieve the forecasted production levels, producers of Western Canadian oil must find a market that values their oil at reasonable price. Without access to seaports, Alberta and Saskatchewan need to develop their transportation capacity to export this expected production. The challenge related to the increasing availability of Western Canadian oil and its distribution to domestic and international markets is imminent. Indeed, uncertainty in oil reserves and production implies uncertainty on future trade movements, and consequently, on oil corridors. It is now becoming a political, economic and national security matter that this oil finds access to other markets and export opportunities (McKenna, 2013). As for their actual markets, maintenance on existing pipelines and the necessity of upgrading refineries to process this crude oil from Western Canada create bottlenecks upstream that increase the constraints to allow the expected growth.

It’s a particularly noteworthy development when oil prices are down by 50%. During the past decade, the price of oil has traveled from $60 per barrel to its peak of $146 during 2009, then in 2015 it fell into a steep decline again to below $50. Since oil is sold in a global market, the increase or decrease of its price has a tremendous impact on all economies throughout the world. This research goes in depth on how the shift in oil prices has affected Saudi Arabia and the US’s economies, the world’s biggest oil producers. The issue will be broken down to three components; a brief summary of the laws and regulations that possibly affected the change in oil prices, how it is currently affecting the US and Saudi Arabia’s economies, and their quest for alternative solutions. The purpose of this research is to analyze how both the United States and Saudi Arabia have been affected and what progressive measures they are willing to take in response to the steep decline of oil prices.

This paper explorers a few of the possibilities of the reasons behind the increase and/or decrease in the price of oil, and the effects these prices have on the economy. It introduces some key players in the oil business itself and helps to break down the logic of how oil is the singular contributor of revenue to many economies worldwide. This research examines, through many resources, the different roles that the U.S. and foreign governments play in determining the price of oil, whether from an import or export standpoint. Also, many articles show how the stock market