Policies to Address the problem of U.S. oil dependency Research Paper

Policies to Address the problem of U.S. oil dependency - Research Paper ExampleThis inquiry will begin with the statement that more than 150 years after the beginning of U.S. petroleum industry (since 1859), oil still is considered as the most strategical commodity. Given the limited capacity of oil reserves in the world and ever-increasing global demand for it, in recent decades oil has played a important role in foreign policies of nations, especially those of great powers. Not surp locomotely, oil has been an important factor in shaping bloody and costly conflicts, particularly since the domain of a function War II. During the last decades of the 19th century and the beginning of the 20th century, America was able to meet the countrys basic needs in the nil sector primarily by using its own oil reserves. However, by the end of the 1940s, the United States began to rely on foreign oil to satisfy rising energy demand, and the proportion of imports has been rising more or less s teadily ever since. Today, according to U.S. Energy Information Administration (EIA), the United States is the largest oil consumer and consumes get on 22% of the total production of oil in the world. That is equivalent to something about 18,771,000 barrels per day, of which about 9.7 million barrels (51%) are imported (on a clear up basis) from foreign countries. However, this dependency on oil is very costly and also is tightly linked to our national security due to both potential economical and political threats related to it.