Oil: More than just a Commodity To state that oil is just a commodity would almost be ignoring the role it plays in our society. War strategy as we know it today may not exist without the use of oil. Due to the difficulty of transport and manufacturing without oil, the economy of the US shows dependence on oil in a way that it has not typically shown on other goods. Oil is not just a commodity because it has more economic and militaristic implications than any one good. Although oil can be traded for funding or other materials, it plays a much more vital role in our maintaining our everyday society. Historically, the nations or states with the most access to oil have been considered more powerful economically. There are few other goods that …show more content…
Current weaponry such as tanks, jets, aircraft carriers, and Humvees are dependent on oil products for use. If the US were to have empty oil reserves, several weapons and transport options would become irrelevant. This idea was behind much of the military tactic used in World War II. As Yergin (1991) mentions, the US blocked Japanese fuel supplies, bombed German synthetic fuel plants, and only exported oil products that the Allies machinery used at one point. These actions ultimately aided the Allies win. In this context, oil is more a weapon than it is a general commodity. As shown by this example, oil availability and pricing is a matter of national security because it affects the ability of a nation to defend …show more content…
Although there is not truly a free market as economists define it, there is certainly still a correlation between supply, demand, and price. The oil industry in 2008 a prime example of this. According to OPEC, oil prices were astronomical at over $120 to $140 per barrel for the middle of the year. he only type of car to show an increase in sales from 2007 was the small or compact car, which showed a 1.2% increase over 2007, while all other vehicles including trucks, SUVs, vans, and luxury vehicles had at least a 9% decrease in sales. The bus came back as a way to get around and the number of domestic flights decreased due to increased flight cost. Although oil is only one good, its loss can impact several areas of the economy, with transport being one of the first industries to
Honourable Dr. Jean Augustine is a black Canadian woman who changed Canada. She will always be a part of Canada’s history. She is the first Black female member of Parliament. She helped show people what Black History Month was and appreciated it. A politician and activist from Grenada, he has educated many people about the history of the black community.
Oil has made many dreams come true. Oil was the best thing that had ever happened to some people and the opposite for others. Oil has not only brought income to people but it has brought new schools and educations, New jobs for people who need them, but sadly has also caused divorce.
Ever since the day that Spindletop started to gush, oil has been very important to the region. Oil has lead to new inventions and also expansions to places like schools. It also gave people jobs because people can get paid for locating and drilling oil.
In order for a revolution to be successful, there are many components and stages that play into it. Matter of fact, George Didi-Huberman, the author of the article Uprisings argues that there are five different parts: elements, gestures, words, conflicts, and desires. Each part is unique and significant in its own way. This can be noted from analyzing different revolutions and rebellions throughout time and the outcome of them. Agreeing with Didi-Huberman, I will provide examples of each division and demonstrate how each one is necessary.
Nothing was possible without the oil. John D. Rockefeller became filthy rich on how much oil was used during the Civil War. America ran and still does to this day, run on oil. They used oil in almost all of the refining capacity. “So here is where things are now: oil companies have majority position on very close to it in both coal and uranium. They are leaders in the technology that will open up the future alternatives, particularly the synthetics from coal.” (Greider, A17). People already knew that when the oil took over, they were going to run the show. The reason for this is because the oil they used was needed for everything like said before. They used it for their cars, wagons, machines,
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
Personally, the film Sharkwater is more of my kind of program than the type of shows presented during Shark Week, because I prefer a longer documentary rather than short little clips. I think that Sharkwater is better, because it's more accurate and well done, with incredible footage. Shark Week is more sensational than Sharkwater, has less serious shows. In the documentary, I find the story more interesting (images, stories, people, environment).
The Importance of Oil in U.S. Foreign Policy During the oil and energy crisis of the mid-1970s Americans became painfully aware of the consequences of the United States dependence on foreign sources of oil. Unfortunately, research and exploration for alternative sources of oil in North America has not been pursued vigorously enough to cease such foreign dependence. As a result, in the mid-1990s Americans find themselves in the same precarious position as they were during the 1970s. The Persian-Gulf War in 1991 was all the proof needed to convince the United States of how strongly oil still influences our foreign policy and international relations in general. Oil and U.S. Foreign Policy: Historical Issues The United
The main usages of petroleum are bunker fuel, detergent, jet fuel, diesel fuel, heating oil, paint, photographic film, food additives, make up, medicine, and candles etc. Actually, the petroleum usages are very broad. If the country is experiencing oil shortage, everything must be very expensive. You may eat some food with food additives, which is a material from petroleum, in your stomach, even though you do not drive or travel around the world by airplanes. Moreover, petroleum has a lot of advantages to generate electricity. It is easy to transport and store because it is a liquid. Compared with natural gas, natural gas is hard to extract and store because it is gas. Natural gas requires higher technology to extract and store it. Moreover, the density of petroleum is higher than natural gas and coal. We can save more room to store petroleum. For government’s aspect, they may want to use some energy, which are stable and easy to store. Although the renewable energy is unlimited and eco-friendly, the costs of built and operate it are expensive. So, the fossil fuels are the best energy for us to use now. Peak oil crises affect our life, and we cannot find any energy to replace it.
The importance of oil for armies did not decrease in the post-war period, but oil also became vital for industrialized societies in many other ways. Developed nations became dependent on motorized vehicles fuelled by oil products, not just for passenger transport but also for food production, health care, manufacturing, heating, and electricity generation. At the same time, most industrialized countries did not produce enough oil to satisfy their needs. Moreover, decolonization meant that oil was imported from independent nations rather than from politically dependent territories as before the war. Conversely, many of these developing countries also became dependent on oil export revenues for their economic development and political
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
Oil has repeatedly been referred to as any economy’s lifeblood. Whereas this is an overemphasis, oil has been the utmost key, nonhuman resource of economy throughout the largest part of the 20th century. In the book “The Prize: The Epic Quest for Oil, Money, And Power” by Daniel Yergin, the author illustrates the political, societal, economic, and geo-strategic prominence of this product. The book was published by Simon and Schuster in 2011 in New York, and contains 928 pages, as its ISBN is 1439134839. This research paper aims to provide a book review on Daniel Yergin’s “The Prize.”
Despite that the United States is currently the greatest producer of petroleum, supplying approximately 14021 thousand barrels per day, they retain presence in the Middle East as part of their national interest to maintain strategic power and influence in the energy-rich region while strengthening trade and their alliances.
Like in many wars in history, “money,” “power,” and “oil” were the primary resources for combat and defense. However, out of the three, oil was the most important resource, causing many to seek its presence. Oil was not only for getting the engine started but also for getting the war done thoroughly and keeping the economy running. During World War II, oil became even more of a necessity putting countries at war. However, most importantly, oil became the decisive factor that determined the unfortunate and successful results of desperate, oil-seeking countries.
Currently Saudi Arabia is one of the leading producers of oil in the world. However, it is losing its foothold on the market. Many countries, like North America, are increasing their oil production and are looking for ways to become less dependent on foreign oil. The increased competition has caused oil prices to decrease. By producing their own oil, countries not only will increase their revenues, but will also reduce their need to rely on foreign oil. By reducing their need foreign an oil a country does not have to worry that their oil supply will be cut off if they go to war.