To Drill or Not to Drill
To Drill or Not to Drill
Tiffany D. Hollins
University of Phoenix-Online Associates
HUM/111 Critical and Creative Thinking
Jennifer Howard-Instructor
October 26, 2012
Introduction
Energy and environmental issues are one of the world’s largest concerns, deciding whether to drill or resort to other energy sources such as wind and solar power. “Since the industrial revolution in the 18th century, human beings have consumed a vast amount of fossil fuel. It has been reported that the remaining ground petroleum including heavy oil, oil sands, and oil shale may only last 70 years. Demand for energy in the United States and worldwide is increasing with the growth of gross domestic product for a given energy intensity.” (2009 American Institute of Physics, Journal of renewable & sustainable energy, p43)
Over the past 40 years, investment decisions have been made by the United States based on such events that have affected the oil industry. The recent increase of oil prices has affected the economy negatively. In the 1970’s, oil prices stayed around $20 a barrel. In 1946, the average cost for a barrel of oil was around $1.60 compared to $96.80 in 2008. (Williams, 2008) The change in the US dollar is another cause for the fluctuating prices in oil demand. The need and demand for oil is leaving us dependent on other countries such as Libya, Nigeria, Iran, Iraq, and Venezuela.
I personally believe that the United States should decrease its dependence on oil and invest more into the sources of energy. I feel as if the demand for oil is putting us in a position to where we are not able to cut other countries off or else we will lose our oil supply.
Not only will having consumed more sources of energy give us more dependence on ourselves instead of other countries, but it is also cleaner and healthier. These types of energy sources are referred to as “clean and renewable energy.”(Quanhua Liu, 2009; p44)
When trying to have an open mind and see things
Tiffany D. Hollins
University of Phoenix-Online Associates
HUM/111 Critical and Creative Thinking
Jennifer Howard-Instructor
October 26, 2012
Introduction
Energy and environmental issues are one of the world’s largest concerns, deciding whether to drill or resort to other energy sources such as wind and solar power. “Since the industrial revolution in the 18th century, human beings have consumed a vast amount of fossil fuel. It has been reported that the remaining ground petroleum including heavy oil, oil sands, and oil shale may only last 70 years. Demand for energy in the United States and worldwide is increasing with the growth of gross domestic product for a given energy intensity.” (2009 American Institute of Physics, Journal of renewable & sustainable energy, p43)
Over the past 40 years, investment decisions have been made by the United States based on such events that have affected the oil industry. The recent increase of oil prices has affected the economy negatively. In the 1970’s, oil prices stayed around $20 a barrel. In 1946, the average cost for a barrel of oil was around $1.60 compared to $96.80 in 2008. (Williams, 2008) The change in the US dollar is another cause for the fluctuating prices in oil demand. The need and demand for oil is leaving us dependent on other countries such as Libya, Nigeria, Iran, Iraq, and Venezuela.
I personally believe that the United States should decrease its dependence on oil and invest more into the sources of energy. I feel as if the demand for oil is putting us in a position to where we are not able to cut other countries off or else we will lose our oil supply.
Not only will having consumed more sources of energy give us more dependence on ourselves instead of other countries, but it is also cleaner and healthier. These types of energy sources are referred to as “clean and renewable energy.”(Quanhua Liu, 2009; p44)
When trying to have an open mind and see things
Citations: Resources: Quanhua Liu, Qinxian Miao, Wenli Yang Journal of Renewable & Sustainable Energy; July 2009, VOL. 1 Crenshaw, Lauren; Maniam, Balasundram; Subramaniam, Geetha Review of Business Research; 2010 VOL. 10 p99-104 University Library