oil dependency

oil dependency

The average daily use of oil has been eighty four million barrels. As China and India begin to build there infrastructure more productively as well as modernizing there lifestyles similar to the west, this has led to a huge consumption of oil. U.S. has begun to compete with other countries for the world’s oil reserves. This huge consumption of oil has led to price shocks. This caused price increases and impacted businesses worldwide. Because of the price increases, spending slowed down which in effect reversed the boom in construction in developing countries. The slow down in economies eventually turned to what is now today a deep recession causing the price to come back down. Even though the slow down of the world economies led to a lower consumption of oil, it does not change the fact of the depleting reserves of oil deposits. There is no exact number of how much oil is left. Some experts are measuring that the oil that we have discovered so far can only be sustained for 40 years maximum. It is alarming as oil reserves deplete and usage increases.
As more people are aware of the shortage of oil, many companies are taking advantage by profiting off it. Exploration is beginning to take place all over the places that may contain oil and gas deposits. This has led to far more environmental impacts that it should. The ocean and land habitats may have been disturbed. Oil pipelines can sometimes leak it can cause environmental affects in the surroundings. Animals risk getting contaminated. The most important negative effect about oil in general is pollution. Cars and other vehicles give off carbon dioxide which is linked to global warming. People are breathing in air that is heavily polluted which causes health problems in the long term.  
There are alternatives to oil, which is a non renewable energy source. There are renewable energy sources that can replace fossil fuels. Renewable energy resources are far different from non-renewable energy resources. Simply...