Oil And Gas Industry : The United States Government Restricted The Export Of Domestically Produced Crude Oil

the desire to achieve independence from foreign energy sources” (Ben Harris). “The environmental safety of fracking has yet to be conclusively demonstrated, they say, and the industry has a poor track record”(Ben

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

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

If John D. Rockefeller, one of the first oil tycoons, were to look at the oil industry today, would he believe his eyes? With millions of oil barrels being imported and exported each year, the oil industry has changed dramatically since the 19th century. At the forefront of the oil industry is the emergence of an oil drilling technique known as fracking. Fracking is an unconventional drilling process that is accomplished by using high-pressured water to release oil and natural gas from rock formations, known as shales. The use of fracking in the United States has made it one of the top oil producing countries in the world. However, this newfound oil and gas drilling method has not come without its costs. Despite the economic boom near drilling locations, politically, fracking has caused some international relationships to be strained. Also, fracking is seen as highly controversial by conservationists because of the environmental threats that it poses. The drilling method of fracking has deeply impacted the United States from an economic, a political, and an environmental standpoint.

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

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

Americans have been drilling for oil for more than half of their existence. Before the 1850’s oil was of little use and had no market for commerce as there was not one overwhelming use for it. Until around the 1850’s, when technology advanced, with it sparking search for one of the most sought after natural resources that countries would later go to war over, petroleum oil. Early inventions like the kerosene lamp provided a new stable home necessity to live by, increasing the demand for crude oil. This would be met in part by Colonel Edwin Drake, who drilled the first successful oil well in 1858. While Drake’s invention for extracting crude oil from the ground would bring about a new era for industrialization, his “black gold” would bring about an even larger effect, the environmental disasters caused by man. For over one hundred and fifty years of drilling for oil, both on shore and offshore, has led to some of the worst catastrophes to both nature and mankind. While many of these catastrophes have led to the deaths of hundreds of crew members, they have also led to long lasting effects on the environment, local and national economies, legislation, regulations, and human morale. These following effects can be seen in the most recent and most contaminated marine oil spill in history. To the media and public it’s known as the British Petroleum offshore drilling oil spill in 2010.

With shale natural gas now on the horizon in the United States of America, many supporters of the horizontal hydraulic fracturing industry are looking at the economic benefits of fracking shale. The current horizontal drilling abilities provided “23.608 quadrillion Btu [of just shale natural gas alone] in 2011” (Hassett and Mathur 2014). This number in terms of energy production marked the “USA [as] the second largest natural gas producer” (Hassett and Mathur 2014) as of the year 2011. Since 2011, the production of natural gas in the United States has been raised even higher as more and more states lift their moratoriums on fracking and new natural gas hotspots are discovered.

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

With the advancement in technology, it is no wonder that humans have now found ways to extract natural gas from highly complex geological formations. This has brought about the era of hydraulic fracturing or more commonly known as fracking. This has been seen to possess tremendous economic opportunity with a potential to fulfill the ever-growing growing energy needs of the world. Yet, the question remains if the environmental implications of the hydraulic fracturing for shale gas outweigh the economic and energy driven benefits that it supposedly possesses. With no significantly rigid governmental policies to control or regulate the effects of fracking, most of the regulations for the operations have

In 1848, James Marshall discovered a single nugget of gold in the American River in California, setting off a massive migration west as hundreds sought to capitalize upon the Gold Rush. Today, a similar situation is playing out. In the late 2000s, new technology enabled workers to extract natural gas from previously inaccessible shale deposits through horizontal hydraulic fracturing. This “shale boom” has had companies racing to capitalize upon the potential of vast natural gas and promises of energy independence and cheap energy. Yet, as the miners during the Gold Rush found upon arriving to California, scientists today are finding that many of the initial claims are not as they seemed. Companies are recklessly continuing, prospecting for natural gas deposits. Hydraulic fracturing is a means of extracting natural gas from deep, previously inaccessible shale deposits. It involves injecting a fracking cocktail mixture of water, sand, and various other chemical fluids into the ground at very high pressures to literally fracture the ground, releasing natural gas that can then be collected. Natural gas is a finite fossil fuel, yet due to the recent fracking boom, many people in the United States have heralded it as the future of America’s energy, the way to energy security.

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

“I will lift the restrictions on the production of 50$ trillion dollars’ worth of job-producing American energy reserves, including shale, oil, natural gas and clean coal.” And here is why.

Since the past few decades, owning a car has become a necessity in order to commute from one place to another. However, cars do not work automatically, they require fuel. Since the past decade, the petroleum industry has become one of the leading industries impacting the nation’s economy. Oil has become an essential commodity as it is utilized in transportation vehicles, serves as a raw material for manufacturing plastics, and is utilized in homes for cooking. America’s economy is greatly dependent on petroleum as it is the “black gold” of the nation. The considerable significance of oil has led to the drilling of it, which is not only limited to land, but also the oceans. Offshore drilling is a method in which petroleum is extracted from underneath the seabed. It is one of the significant technological advancements in the past few decades. However, the ones who are involved in the process of offshore oil production are humans, and humans tend to make mistakes. In 1969, due to a human error, an oil spill occurred and natural gas, oil, and mud shot up the well and oozed into the ocean (“Offshore Drilling”). The oil spilled led to an environmental disaster which killed thousands of marine animals and distorted the environment. In order to prevent the same error, the government passed a moratorium in 1981, banning more than 85 percent of the country’s oil drilling sites (“Offshore Drilling”). The moratorium restricted the United States to mass-produce its natural resource.